The financial services confidence index increased in September
The Central Bank announced the results of the Financial Services Confidence Index (FHGE) for September 2023.
According to the results of the September 2023 Financial Services Survey, which was evaluated based on the responses of 143 organizations operating in the financial sector, FHGE in September increased 6 points compared to the previous month, reaching 168.2.
DEMAND FOR SERVICES HAS WEAKENED IN THE PAST THREE MONTHS
While the business situation in the last three months and the expectation of demand for services in the next three months affected FHGE in an increasing direction, it was observed that the demand for services in the last three months affected FHGE in a decreasing direction.
Based on assessments of the business situation and demand for services, assessments of an improvement in the business situation in the last three months have strengthened compared to the previous month. It has been noted that assessments that there will be an increase in demand for services in the last three months have weakened, while expectations that there will be an increase in demand for services in the next three months have strengthened.
According to employment assessments, 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 expect an increase in employment in the next three months has weakened.
SITUATION IN SUBSECTORS
When the confidence indices of the “Financial and insurance activities” sector are evaluated by subsectors, it is observed that in the sectors “64-Financial services activities (excluding insurance and pension funds)” and “65-Insurance, Reinsurance and Investment Funds” Pensions” (excluding mandatory social security services)”, are compared with the previous month. An increase of 6.2 and 2.0 points, respectively, and a decrease of 4.0 points was observed in the “66- Financial Services and Auxiliary Activities of Insurance Activities” compared to the previous month.