Turkish consumer confidence index slips in February

By Fatih Erkan Dogan

ANKARA (AA) - The consumer confidence index in Turkey was down in February from the previous month according to official data on Monday.

The index slipped 1.8 percent to hit 65.7 in February from 66.9 points last month, a report from the Turkish Statistical Institute stated.

All sub-indices of the main index were lower in the month with probability of saving index -- indicating people’s expectation of earning enough money to save -- showing the sharpest decline, down 5.9 percent to hit 21 points from 22.4 in January.

The financial situation expectation index was the second-worst performer, slipping by 2.2 percent from the previous month to 85.9 points.

The number of people unemployed anticipation index -- a gauge of sentiment about the health of the labor market -- was down 1.4 percent compared to previous month, at 67.9 points.

Turkey’s general economic situation index was least hit figure in the month, decreasing only 0.7 percent to reach 88 points in February.