Economic confidence falls in February

According to data released by the Turkish Statistical Institute (TurkStat), the Economic Confidence Index decreased by 0.5 percent in February compared to the previous month and fell to 99.2.

On a sectoral basis, the consumer confidence index increased by 1.4 percent to 82.1, the real sector (manufacturing industry) confidence index increased by 0.2 percent to 102.8, and the retail trade sector confidence index increased by 1.6 percent to 116.3.

However, the service sector confidence index decreased by 1.9 percent to 114.2, and the construction sector confidence index decreased by 2.7 percent to 89.3.

The decline in the economic confidence index was particularly affected by the declines in the service and construction sectors.