Press "Enter" to skip to content

Turkish consumer morale weakens for 1st time in 6 months

Consumer morale in Türkiye deteriorated in February for the first time since August amid declines in both financial and economic expectations, preliminary data from the statistical office showed Wednesday.

The consumer confidence index fell 1.3% to 79.3 points after rising for five consecutive months, according to the Turkish Statistics Institute (TurkStat).

The index stood at 80.4 points in January.

All subindexes posted declines in February, with general economic situation expectations registering the biggest drop at 3.4% versus January.

Expectations of the general economic situation in the next 12 months declined drastically from the previous month. Consumers were also less inclined to make big purchases in February.

The financial situation of households dropped by 0.1%.

Calculated from the monthly survey, results are evaluated within a range of zero-200. A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.

More from BusinessMore posts in Business »

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *