Financial Services Confidence Index (FSCI) rose to 153.6 in March, an increase of 2.4 points compared to the previous month.
Financial Services Statistics and Financial Services Confidence Index for March were announced by the Central Bank of the Republic of Turkiye (CBRT).
According to the survey results obtained by weighting and aggregating the responses of 142 institutions operating in the financial sector, the index increased by 2.4 points compared to the previous month and reached 153.6 in March.
When the diffusion indices of the survey questions that make up the index are examined, the improvement in the business situation in the last three months and the demand for services affected the FSCI in a decreasing direction, while the demand expectation for the services in the next three months affected the FSCI in an increasing direction.
According to evaluations of the business situation and demand for services, evaluations of an improvement in the business situation and an increase in demand for services in the last three months have weakened compared to the previous month. Expectations that there will be an increase in demand for services in the next three months have strengthened.
According to the evaluations regarding employment, the trend in favor of those who reported an increase in employment in the last three months and those who expect an increase in employment in the next 3 months has weakened.
When confidence indices in the “Finance and Insurance Activities” sector are evaluated by sub-sectors in March 2024, according to the NACE Rev.2 sector classification, in the sectors “64-Financial Services Activities” (except insurance and pension funds), “65-Insurance, Reinsurance and Pension Funds” (excluding compulsory social security services and “66- Auxiliary Activities for Financial Services and Insurance Activities”, there was an increase of 2.10, 4.6 and 17.2 points, respectively, compared to the previous month.
Source: AA / Prepared by Irem Yildiz