Turkish consumer confidence index declines to 79.3 in February

The index, compiled from data obtained through a collaborative consumer tendency survey conducted by the Turkish Statistical Institute and the Central Bank of the Republic of Türkiye, had recorded a figure of 80.4 in January.

The latest report from the Turkish Statistical Institute highlights a slight decline in consumer confidence in February compared to the previous month. The Consumer Confidence Index, a key indicator of economic sentiment among households, dipped to 79.3 from 80.4 in January.

The index is derived from a comprehensive survey conducted jointly by the Turkish Statistical Institute and the Central Bank of the Republic of Türkiye, reflecting consumer perceptions regarding economic conditions, personal finances, and purchasing intentions.

The decrease in the Consumer Confidence Index suggests a somewhat cautious outlook among consumers amidst ongoing economic uncertainties and challenges. Factors such as inflationary pressures, currency volatility, and geopolitical tensions may have contributed to the slight downturn in confidence levels.

Despite the slight decline, authorities remain committed to implementing measures aimed at bolstering consumer confidence and supporting economic stability. Efforts to address underlying economic issues and promote sustainable growth are expected to play a crucial role in restoring confidence and stimulating consumer spending in the coming months. (ILKHA)