Turkey‘s consumer confidence rises in February
The consumer confidence index climbed 0.5% on the month to post a reading of 68.06 in February following a reading of 67.71 in the previous month. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.
However, the index of expectations for the general economic situation for the next 12 months declined by 0.7% month over month to post a reading of 90.87 in February. The lower reading index indicates that the number of consumers who expect a better general economic situation in the next 12 months has decreased compared with the previous month.
The index of financial expectations of households for the next 12 months was down 1.2% to post a reading of 86.75 in February while the index of expectations for the number of unemployed persons in the next 12 months increased 2.7% to a reading of 69.64. The higher reading index suggests that a decreasing number of consumers expect higher unemployment figures over the next year.
Meanwhile, the index of the probability of saving in the next 12 months climbed 5.5% month over month to 25 in February. This gain means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has increased.
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