Economic Confidence Index Falls By 2.6 Percent In February

- Economic confidence index fell by 2.6 percent in February, for the second month consecutively, due to worsening confidence at manufacturing industry and retail trade, according to the data relaesed by Turkstat on Thursday.

Economic confidence index indicates an optimistic outlook about the general economic condition when the index is above 100, on contrary it indicates a pessimistic outlook when it is below 100.

Real sector confidence index fell by 2.1 percent to 104.3 in February, against 106.5 in January, while retail trade confidence index fell by 0.8 percent to 103.53 over the same period.

Consumer confidence index rose to 68.06, increasing by 0.5 percent, services confidence index rose to 101.94 increasing by 0.9 percent, construction confidence index rose to 84.98 increasing by 2.9 percent compared to the previous month.

Consumer confidence index is calculated from Consumer Tendency Survey results, which is conducted by the cooperation of Turkstat and Central Bank of Turkey.

Manufacturing industry confidence index is calculated by Central Bank of Turkey and services, retail trade and construction confidence indices are calculated by Turkstat.