Turkey's Economic Confidence Index Rebounds in February
Turkey's Economic Confidence Index Rebounds in February
Ankara - QNA
Confidence in Turkey's economy rebounded in February after a two-month dip, the Turkish Statistical Institute reported Monday.
The Economic Confidence Index surged 6.8% to 91.5 in February compared to last month, TurkStat said in a statement, cited by Anadolu Agency.
The increase in the economic confidence index stemmed from the increases in services, the real sector, construction, and retail trade confidence indices, the statement said.
The sub-index for the real sector climbed 6% to 106.5 in February, while services also surged 6.1% to 92.9. The retail trade confidence and construction confidence indices both rose 2.1% to 97.9% and 76.4% respectively in the same period.
However, the sub-index tracking consumer confidence fell month-on-month 1.6% during the month to 65.7.
The index slipped last December and in January by 3.9% and 18.5% respectively.
The Economic Confidence Index is seen as a significant reading of the economic course as it is a composite index that aggregates sub-indices of consumer confidence, real sector services, retail trade and construction confidence indices, reflecting an overall sentiment of health of the economy.
Source: QNA
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