Turkey: Consumer confidence rises in February

By Aysu Bicer

ANKARA (AA) - Consumer confidence in the Turkish economy posted a rise in February, the country's statistical authority announced on Thursday.

The consumer confidence index stood at 84.5 this month, up 1.5% from 83.3 in January, the Turkish Statistical Institute (TurkStat) said.

The index value is jointly calculated by TurkStat and the Central Bank of Turkey through the measurement of consumer tendencies.

The consumer confidence index is 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.

Among sub-indices, the current financial situation of household index, compared to the last 12 months, increased 4.1% to 66.3 in February, versus 63.7 in January.

The financial situation expectation of household index in the next 12 months reached 84.5, rising 0.8% month-on-month.

The general economic situation expectation index in the next 12 months stood at 91.7 in the month, up 4% on a monthly basis.

Assessment on spending money on durable goods index over the next 12 months, compared to the past 12 months, fell 1.9% to 95.5 in February from 97.3 in January.