Financial Services Confidence Index reaches 158.4 level in September
According to data announced by the Central Bank, survey results involving institutions operating in the financial sector followed a positive trend.
The Financial Services Confidence Index for September, announced by the Central Bank of the Republic of Turkey, increased by 8 points compared to the previous month, reaching 158.4.
General Increase in the Index
The Central Bank of the Republic of Turkey shared the Financial Services Statistics and Financial Services Confidence Index data for September with the public.
According to the survey results prepared by weighting the responses of 150 institutions operating in the financial sector, the index recorded an 8-point increase in September.
Impacts of Sub-Indices
When examining the diffusion indices belonging to the survey questions that make up the index, it was observed that business conditions and demand expectations over the last three months created a positive effect.
It was determined that all sub-indices, including the expectation of demand for services over the next three months, had an increasing effect on the confidence index.
Business Conditions and Demand Developments
According to evaluations regarding business conditions and services, views that there was an improvement in business conditions over the past three months strengthened compared to the previous month.
In addition, it was observed that both the proportion of those stating there was an increase in demand for services over the past three months and expectations for the upcoming period strengthened.
Employment Expectations
When evaluations regarding employment were examined, it was determined that the trend in favor of those reporting an increase in employment over the past three months strengthened to a limited extent.
However, it was noted that the trend in favor of those expecting an increase in employment over the next three months showed a weakening tendency.
Changes in Sub-Sectors
Financial and insurance activities sub-sectors were evaluated separately according to the NACE Rev.2 sector classification.
Financial service activities experienced an increase of 7.4 points, insurance and reinsurance sectors 15.8 points, and auxiliary activities 4.9 points.