Türkiye's consumer sentiment at nearly 2-year high

ANKARA

The Turkish consumer sentiment hit a 23-month high in February, according to latest official figures released on Monday.

The consumer confidence index ticked up 4.3% from a month earlier to 82.5 in February, the Turkish Statistical Institute (TurkStat) said in a statement.

The sub-indices for financial situation of household at present jumped 6.3% during the same period.

The financial situation expectation of households over the next 12 months and general economic situation expectation over the next 12 months gained 5.4% and 3.8%, respectively, from a month ago.

The index for the assessment of spending money on durable goods over the next 12 months increased 2.5% in the month.

The statistical authority said the consumer tendency survey data was compiled before Feb. 6, and that the results largely reflect the pre-earthquake situation in the county.

At least 41,020 people have been killed by two strong earthquakes that jolted southern Türkiye on Feb. 6, according to the latest official figures.

The magnitude 7.7 and 7.6 quakes were centered in Kahramanmaras and struck 10 other provinces – Adana, Adiyaman, Diyarbakir, Hatay, Gaziantep, Malatya, Kilis, Osmaniye, Elazig, and Sanliurfa.

The index is a vital gauge of the economy’s overall performance, indicating people’s sentiments on financial standing and the general economic situation, along with expenditure and saving tendencies.