Turkey’s consumer confidence index falls 7% in Feb
The consumer confidence index decreased to a reading of 66.64 in February from a reading of 71.62 in January. Any reading above 100 indicates an optimistic outlook, while any reading below 100 indicates a pessimistic outlook.
The index of financial expectations of households for the next 12 months was down 3.1% in February to 89.31 while the index of expectations for the number of unemployed persons in the next 12 months plunged by 10.1% to a reading of 66.17 in February.
The index of expectations for the general economic situation for the next 12 months declined 5.9% on the month to post a reading of 90.03 in February from a reading of 95.65 in the previous month. The lower reading 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.
Meanwhile, the index of the probability of saving in the next 12 months decreased 16.1% month over month to 21.05 in February. This decrease means that the number of consumers who believe that they will be able to increase their savings in the next 12 months has declined compared to the previous month.
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