Economic confidence index increases in February

ISTANBUL

Türkiye's economic confidence was at 100.7 points in February, up 1.4 percent on a monthly basis, according to official figures released on Feb. 26.

In February, three sub-indices posted increases, while two saw declines, the Turkish Statistical Institute (TÜİK) reported.

The retail trade confidence index, which fell 2.4 percent in January, gained 2.9 percent on a monthly basis, and the consumer confidence index rose 2.3 percent in February, after edging up 0.3 percent in the previous month.

The real sector confidence index rose by 1.1 percent in February, contrasting with the 0.7 percent decline recorded in January.

On the other hand, the construction confidence index dropped 2.1 percent (up 1.5 percent in January), while the services confidence index was unchanged from the previous month.

The economic confidence index, a key indicator of the overall economic situation, hovers between 0 and 200. A reading above 100 indicates optimism about the overall economic outlook, while a value below 100 reflects a more pessimistic assessment.