Economic confidence in Turkiye dips slightly in February 2024

01 Mar 24 1 min read

Insights

  • In February 2024, Turkiye's economic confidence saw a minor decline of 0.4 per cent to 99, according to Turkstat.
  • The consumer confidence index dropped by 1.3 per cent to 79.3.
  • Additionally, the manufacturing and retail trade sectors experienced decreases in confidence by 0.9 per cent and 1.0 per cent, settling at 102 and 114.5, respectively.
In February 2024, Turkiye witnessed a minor decline in its economic confidence index, marking a 0.4 per cent decrease to settle at 99, down from 99.4 in January 2024, according to the Turkish Statistical Institute (Turkstat). The consumer confidence index, which is a critical indicator of financial stability and the general economic outlook, saw a 1.3 per cent decrease, dropping to 79.3.

Similarly, the manufacturing industry experienced a slight setback with its confidence index reducing by 0.9 per cent to 102.

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The retail trade sector was not immune to the trend of declining confidence, with its index falling by 1.0 per cent to 114.5, as per Turkstat.

Fibre2Fashion News Desk (DP)

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