Turkey’s consumer confidence index falls in Feb
The consumer confidence index decreased to a reading of 65.7 in February from a reading of 66.9 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 by 2.2% in February and became 85.9 while the index of expectations for the number of unemployed persons in the next 12 months was down by 1.4% to a reading of 67.9 in February.
The index of expectations for the general economic situation for the next 12 months decreased by 0.7% on the month to post a reading of 88 in February from a reading of 88.6 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 was down by 5.9% month over month to 21 in February from 22.4 in January. 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 decreased compared to the previous month.
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