Financial Services Confidence Index (FHGE) decreased by 13.2 points to 154.1 in May.
The Central Bank of the Republic of Turkey (CBRT) announced the Financial Services Statistics and Financial Services Confidence Index for May.
According to the survey results obtained by weighting and aggregating the responses of 150 institutions operating in the financial sector, FHGE decreased by 13.2 points in May compared to the previous month, falling to 154.1.
When the diffusion indices of the survey questions that make up the index were examined, it was seen that the business situation in the last three months and the demand for services affected the FHGE in a decreasing direction, while the demand expectation for the services in the next three months affected the FHGE in an increasing direction.
According to assessments of the business situation and demand for services, assessments of an improvement in the business situation in the last three months have weakened compared to the previous month.
It has been observed that the evaluations that there will be an increase in the demand for services in the last three months have weakened, while the expectations that there will be an increase in the demand for services in the next three months have strengthened.
According to the evaluations regarding employment, it was observed that the trend in favor of those who reported an increase in employment in the last three months has strengthened, while the trend in favor of those who expected an increase in employment in the next three months has weakened.
In May, when the confidence indices in the “Finance and Insurance Activities” sector are evaluated by sub-sectors according to the NACE Rev.2 sector classification, compared to the previous month, there was a decrease of 15 and 2.3 points in the “64-Financial Services Activities (excluding insurance and pension funds)” and “66-Financial Services and Auxiliary Activities for Insurance Activities” sectors, respectively, and “65-Insurance, Reinsurance and Pension Funds (compulsory social security services) It was observed that there was an increase of 5.4 points in the “excluding)” sector.
