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Turkish consumer confidence drops 2.8% in Feb

ANKARA, Feb 18 (Reuters) – Turkish consumer confidence dropped 2.8% 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% 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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