Financial News: Turkey Consumer Confidence Near 2-Year High

Turkey Consumer Confidence Near 2-Year High

02/20/2023 - 04:46:00 (RTTNews)

(RTTNews) - Turkey's consumer confidence reached its highest level in nearly two years in February, a survey conducted in cooperation with the Turkish Statistical Institute and Central Bank of the Republic of Turkey showed on Monday.

The consumer confidence index rose to 82.5 in February from 79.1 in the previous month. This was the highest reading since March 2021.

Nonetheless, a score below 100 indicates that pessimists outnumbered optimists.

Among the four sub-indices of consumer confidence, the measure for current financial situation for households rose to 65.5 in February from 61.6 in the prior month. Likewise, households' financial situation expectations improved to 84.2 from 79.9.

The index measuring general economic situation expectations for the coming year came in at 85.8 versus 82.7 in January. After falling last month, assessment on spending money on durable goods over the next twelve months climbed to 94.5 from 92.2.

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