Confidence in financial services plummeted in August

The Central Bank (CBRT) announced the Financial Services Statistics and the Financial Services Confidence Index (FHGE) for August 2023.

Thus, in August 2023, the FHGE decreased 0.1 points compared to the previous month and became 162.2.

When the diffusion indices of the survey questions that make up the index are analyzed, it is stated that the business situation of the last three months and the expectation of demand for services in the next three months affected FHGE in a downward direction; Demand for services in the last three months was said to have affected FHGE in an upward direction.

EXPECTATION OF INCREASED WEAK DEMAND

According to the evaluations on the business situation and the demand for services, it was observed that the evaluations on the improvement of the business situation in the last three months weakened compared to the previous month.

It has been observed that assessments that there has been an increase in the demand for services in the last three months have strengthened, while expectations that there will be an increase in the demand for services in the next three months have weakened.

According to the employment evaluations, it was observed that the trend in favor of those who reported an increase in employment in the last three months strengthened, while the trend in favor of those who expect an increase in employment weakened somewhat. in the next three months. .