Turkey Consumer Confidence Index falls Modestly In February

Turkey consumer confidence index fell 0.1 percent in February from the preceding month, a release from its statistics department revealed. The index fell to 72.25 in the month from 72.33 in January.

As far as economic situation is concerned, Turkey consumer confidence rose 0.7 percent to 96.8 in February from 96.8 in the prior month. This was due to higher number of consumers expecting a better economic condition in the upcoming 12-month period than the preceding month.

Similarly, the country’s financial situation expectation index rose 0.2 percent to 91.3 in the month. This was due to high consumers seeing better financial condition in the next 12-month period.

The release added, “The number of people unemployed expectation index decreased by 0.9% compared to the previous month and became 75.3 in February. This decrease stemmed from the decrease of people expecting a decrease in the number of unemployed persons in the next 12 months.”

On the other hand, the probability of saving index fell 1.9 percent to 25.7 in February. This was attributed to a drop in consumers on the upcoming one-year expectation of savings.

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