Financial Services Confidence Index rose by 1.7 points to 150.0 in May compared to the previous month.
Financial Services Statistics and Financial Services Confidence Index for May was announced by the Central Bank of the Republic of Turkiye (CBRT).
According to the survey results obtained by weighting and aggregating the answers of 143 institutions operating in the financial sector, the index increased by 1.7 points in May compared to the previous month and became 150.0.
When the diffusion indices of the survey questions that make up the index are analyzed, the business situation in the last three months has affected FHGE in an upward direction, while the demand for services in the last three months and the expectation for services in the next three months have affected FHGE in a downward direction.
According to the evaluations of the business situation and the demand for services, the evaluations that there has been an improvement in the business situation in the last 3 months have strengthened compared to the previous month. Evaluations that there has been an increase in the demand for services in the last 3 months and the expectations that there will be an increase in the demand for services in the next 3 months have weakened.
According to the evaluations regarding employment, the trend in favor of those who reported an increase in employment in the last 3 months turned in favor of those who reported a decrease, while the trend in favor of those who expected an increase in employment in the next 3 months became stronger.
In May, when the confidence indices in the “Finance and Insurance Activities” sector according to the NACE Rev.2 sector classification are evaluated by sub-sectors, “64-Financial Services Activities (excluding insurance and pension funds)” and “66-Financial Services and Ancillary Activities for Insurance Activities” sectors increased by 2.0, and 14.6 points, respectively, compared to the previous month, and “65-Insurance, Reinsurance and Pension Funds (excluding compulsory social security services)” sector, on the other hand, decreased by 3.4 points compared to the previous month.
Source: Trthhaber / Prepared by Irem Yildiz