The Central Bank of the Republic of Turkiye has released the Financial Services Statistics and Financial Services Confidence Index for May, revealing a significant uptick.
Based on survey responses from 142 organizations within the financial sector, the Financial Services Confidence Index surged by 2.9 points from the previous month, reaching 160.3 in May.
Analysis of the survey’s diffusion indices indicates that FHGE (Financial Situation Expectation) has been positively influenced by improved business conditions over the past 3 months and optimistic expectations for service demand in the next 3 months, despite a slight decline in service demand over the past 3 months.
While assessments of recent business performance have strengthened compared to the previous month, perceptions of increased service demand have slightly weakened. However, expectations for heightened service demand in the coming 3 months have bolstered.
Employment-related evaluations reveal a positive trend, with more respondents reporting increased employment over the past 3 months and anticipating further employment growth in the next 3 months.
The report underscores a favorable outlook for Turkiye’s financial services sector, aligning with positive trends observed across various sub-sectors, as indicated by the NACE Rev.2 sector classification.
Source: Trthaber / Prepared by Irem Yildiz