Türkiye's economic confidence weakened slightly in February when compared to a month earlier, official data showed Wednesday, led primarily by a drop in consumer morale, which deteriorated for the first time since August.
The economic confidence index fell 0.4% month-over-month to 99 points in February, the data from Turkish Statistical Institute (TurkStat) showed.
The consumer confidence index declined 1.3% to 79.3, retail trade sector confidence was down by 1% to 114.5, while the real sector confidence index dropped 0.9% to 102.
Meanwhile, the construction confidence index picked up by 1% when compared to the previous month to 91.8 in February, and the services index climbed 1.6% to 118.6, according to the data, respectively.
The economic confidence index is a composite index that encapsulates consumers' and producers' evaluations, expectations, and tendencies about the general economic situation.
It indicates an optimistic outlook if it is above 100 or a pessimistic outlook if below 100.
