Turkey’s consumer confidence posted a decline in February, according to the Turkish Statistical Institute (TurkStat).
From 73.2 in January, the consumer confidence index slipped to 71.2 this month, data from TurkStat showed.
The index is a vital gauge of the economy’s overall, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.
All sub-indices fell this month, with the biggest drop seen in the financial situation expectation of household over the next 12 months, which dropped by 4.2% to 68.3.
The general economic situation expectation index tumbled by 3.8% to 71.7 in February, while the index for assessment on spending money on durable goods index over the next 12 months dropped by 1.7% to 89.4.
The financial situation of household at present index saw a decline of 1.6% to 55.2.
The consumer confidence index is calculated from survey results and evaluated within a range of 0-200, indicating an optimistic outlook when the index is above 100 and a pessimistic one when it is below.