Middle East

Turkish consumer confidence drops 2.8 percent in Feb

ANKARA, Feb 18 (Reuters) – Turkish consumer confidence dropped 2.8 percent to 71.2 points in February, official data showed on Friday, but remained higher than a record low level it touched in December due to a slide in the value of the lira.

Confidence plunged in 2020 due to fallout from the COVID-19 pandemic before a rebound that began fizzling in October of last year. A confidence level below 100 reflects a pessimistic outlook, while a reading above 100 indicates optimism.

In January, consumer confidence rose 6.2 percent to 73.2 points, data from the Turkish Statistical Institute shows. It stood at 68.9 in December.

Writing by Daren Butler Editing by Ece Toksabay

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