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Türkiye’s consumer index at nearly two-year high — official data

Turkish consumer sentiment hit a 23-month high in February, according to the latest official figures.

The consumer confidence index ticked up 4.3 percent from a month earlier to 82.5 in February, the Turkish Statistical Institute (TurkStat) said in a statement on Monday.

The sub-indices for the financial situation of households at present jumped 6.3 percent during the same period.

The financial situation expectation of households over the next 12 months and general economic situation expectation over the next 12 months gained 5.4 percent and 3.8 percent, respectively, from a month ago.

The index for the assessment of spending money on durable goods over the next 12 months increased by 2.5 percent in the month.

READ MORE: Türkiye’s exports hit all-time high of $254.2B in 2022: Erdogan

Pre-earthquake data

The statistical authority said the consumer tendency survey data was compiled before February 6, and that the results largely reflect the pre-earthquake situation in the county.

At least 41,020 people have been killed by two strong earthquakes that jolted southern Türkiye on February 6, according to the latest official figures.

The magnitude 7.7 and 7.6 quakes were centered in Kahramanmaras and struck 10 other provinces – Adana, Adiyaman, Diyarbakir, Hatay, Gaziantep, Malatya, Kilis, Osmaniye, Elazig, and Sanliurfa.

The index is a vital gauge of the economy’s overall performance, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.

READ MORE: Fitch: World GDP to grow 1.7% in 2023; Turkish economy to expand nearly 3%

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