Financial Services Confidence Index Declined to 150.4 in August

According to the August data released by the Central Bank of the Republic of Turkey, the Financial Services Confidence Index decreased by 4.6 points compared to the previous month, falling to 150.4.

General Change in the Index

The Central Bank of the Republic of Turkey shared the Financial Services Statistics and Financial Services Confidence Index data for August with the public.

The index, calculated by weighting the responses of 150 institutions operating in the financial sector, showed a decrease of 4.6 points in August.

Demand and Business Status

When the sub-items making up the index were examined, it was determined that the business situation and the demand for services over the past three months affected the index in a downward direction.

On the other hand, the expectation of demand for services in the next three months stood out as a factor supporting the index in an upward direction.

Employment Expectations

It was noted that the trend in favor of those reporting an increase in employment over the past three months weakened, whereas those expecting an increase in the next three months strengthened.

Sub-Sector Developments

While financial service activities experienced a 5.3-point decline and auxiliary activities a 0.6-point drop, insurance and pension funds recorded a 3.5-point increase.