Financial Services Confidence Index rose to 161.4 in December

The Central Bank of the Republic of Turkey (CBRT) has released the Financial Services Statistics and Financial Services Confidence Index for December.

According to the survey results, obtained by weighting and aggregating the responses of 142 institutions operating in the financial sector, the index increased by 0.6 points compared to the previous month, reaching 161.4.

When examining the diffusion indices of the survey questions that make up the index, the business situation over the last three months had a downward effect on the FSCI, while the demand for services over the last three months and the expectation for demand for services over the next three months had an upward effect on the FSCI.

According to assessments regarding business situation and demand for services, evaluations indicating an improvement in the business situation over the last three months weakened compared to the previous month. Conversely, evaluations indicating an increase in demand for services over the last three months and expectations for an increase in demand for services over the next three months strengthened.

According to assessments regarding employment, the trend favoring those reporting a decrease in employment over the last three months shifted in favor of those reporting an increase, and the trend favoring those expecting an increase in employment over the next three months also strengthened.

In December, when confidence indices were evaluated by sub-sectors according to the NACE Rev.2 sector classification within the "Financial and Insurance Activities" sector, there was an increase of 0.1 and 14.3 points respectively in the "64-Financial Service Activities (except insurance and pension funding)" and "65-Insurance, Reinsurance and Pension Funding (except compulsory social security)" sectors compared to the previous month, while a decrease of 32.8 points occurred in the "66-Activities Auxiliary to Financial Service and Insurance Activities" sector compared to the previous month.

News Source: 12punto