Financial Services Confidence Index Decreased

Financial Services Confidence Index Decreased

Financial Services Confidence Index decreased by 3.9 points to 160.8 in February compared to the previous month. Central Bank of Turkey (CBT) for the month of February survey by the Financial Services and Financial Services Confidence Index (FHG) was announced. Financial Services Survey results for February were obtained by consolidating 157 organizations operating in the financial sector. Accordingly, FHGE decreased by 3.9 points to 160.8 in February compared to the previous month. When the dissemination indexes of the survey questions that make up the index are analyzed, the business situation in the last three months affected FHGE in an upward direction, while the demand for the services in the last three months and the expectation for the services in the next three months affected FHGE in the direction of decreasing. According to the evaluations regarding the business situation and the demand for services, evaluations regarding the improvement in the business situation in the last three months have strengthened compared to the previous month, and the expectations that there will be an increase in the demand for services in the last three months have weakened. According to employment evaluations, the progress in favor of those who reported an increase in employment in the last three months and those expecting an increase in employment in the next three months continued stronger. In February, when the confidence indices in the "Finance and Insurance Activities" sector are evaluated by sub-sectors according to NACE Rev.2 sector classification, "64-Financial Service Activities (excluding insurance and pension funds)", 65-Insurance, Reinsurance and Pension Funds (mandatory social security services) and "66-Financial Services and Auxiliary Activities for Insurance Activities" decreased by 3.9, 1.5 and 2.5 points, respectively, compared to the previous month.