Turkey’s economic confidence index declines 2% m/m in February

Turkey’s economic confidence index declines 2% m/m in February
By bne IntelliNews February 27, 2018

Turkey’s economic confidence index declined by 2% m/m to 103 points in February, after jumping by 10% m/m to 104.9 points in January, the highest level registered since August, data from national statistics office TUIK showed on February 27.

The 100-mark separates optimism from pessimism.

The index value hit a five-year high last August but gradually declined across the four following months before January's gain.

All the sub-indices of the headline economic sentiment index were also down in February.

Seasonally adjusted business sentiment edged up by 0.1% m/m in February following the 1.6% m/m increase posted in January.

Services confidence decreased by 1.3% m/m after rising 6% m/m in January while retail confidence declined by 1.5% m/m following the 5.6% m/m rise recorded in January.

Construction confidence decreased by 3.7% m/m after rising 6.7% m/m in January.

Consumer sentiment in Turkey slightly declined by 0.1% m/m to 72.25 on the index in February after jumping by 11% m/m in January to 72.3, the highest level recorded since May last year.