Turkish consumer confidence in February hit 20-month high

ISTANBUL

The Turkish consumer confidence index rose in February to its highest level since June 2023, according to data released by the Turkish Statistical Institute (TurkStat) on Thursday.

The consumer confidence index soared 1.4% from the previous month to 82.1, data showed.

The rise came after January's 0.4% decline.

The sub-index for household financial situation expectations over the next 12 months grew 3.1%, while the index measuring spending on durable goods for the same period was up 1% compared to the previous month.

Meanwhile, the index for households' current financial situation climbed 1.1% in February, and general economic situation expectations over the next 12 months rose 0.3%.

The index is a vital gauge of the economy's overall performance, indicating public sentiment on financial standing and the general economic situation, along with spending and saving tendencies.