Economic confidence down by 2.6% in February

The economic confidence index dropped 2.6% month-on-month in February, according to the Turkish Statistical Institute (TurkStat)

From 100.8 last January, the index fell to 98.2, data from TurkStat showed.

All sub-indices posted decreases, with the retail trade confidence index losing the most, 3.8% to 119.8 in February compared to the previous month.

The consumer confidence index fell 2.8% to 71.2, while the real sector confidence index dropped 1.8% to 109.9.

The services confidence index lost 1.2% to 118.7, while the construction confidence index decreased 3.3% to 82.7 in February compared to the previous month.

A rating above 100 indicates an optimistic outlook for the overall economic situation, while a value below 100 indicates a negative assessment.