The Central Bank of the Republic of Turkey (CBRT) announced the Financial Services Statistics and Financial Services Confidence Index (FHGE) data for November. The results of the Financial Services Survey in November 2024 were obtained by weighting and aggregating the responses of 148 organizations operating in the financial sector.
In November 2024, FHGE increased by 6 points compared to the previous month and stood at 173.6. 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 an increasing direction, while the demand expectation for the services in the next three months affected the FHGE in a decreasing direction.
According to the evaluations regarding the business situation and the demand for services, it was observed that the evaluations that there was an improvement in the business situation and an increase in the demand for services in the last three months were stronger compared to the previous month. It was observed that expectations that there would be an increase in demand for services in the next three months had weakened somewhat.
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 became slightly stronger, while the trend in favor of those who expected a decrease in employment in the next three months turned in favor of those who reported an increase.
In November 2024, when the confidence indices in the “Finance and Insurance Activities” sector are evaluated by sub-sectors according to the NACE Rev.2 sector classification, there is a 6.6 point increase in the “64-Financial Service Activities (excluding insurance and pension funds)” sector compared to the previous month. “65-Insurance, Reinsurance and Pension Funds (excluding compulsory social security services)” and “66-Financial Services and Auxiliary Activities for Insurance Activities” It was observed that there was a decrease of 0.5 and 28.7 points in the sectors, respectively.
