Financial Services Confidence Index Declines by 4.1 Points in December 2024

In December 2024, the Financial Services Confidence Index recorded a decrease of 4.1 points compared to the previous month, reaching a level of 169.5. According to the statement from the Central Bank, when examining the diffusion indices of the survey questions that form the index, it was observed that the business situation and demand for services over the past three months had a decreasing effect on the FHGE, while the expectations for demand for services in the next three months had an increasing effect on the FHGE.

The statement noted: "Based on the evaluations regarding the business situation and demand for services, it has been observed that the assessments indicating improvement in the business situation and an increase in demand for services over the past three months have weakened compared to the previous month. However, expectations for an increase in demand for services in the next three months have strengthened.

Regarding employment evaluations, there has been a shift from a positive trend indicating an increase in employment over the past three months to a trend indicating a decrease. However, the trend for expectations of an increase in employment over the next three months has strengthened.

In December 2024, according to the NACE Rev.2 sector classification, when evaluating confidence indices by sub-sectors in the "Financial and Insurance Activities" sector, a decrease of 4.6 points was observed in the "64 Financial Service Activities (excluding insurance and pension funds)" sector compared to the previous month, while increases of 1.9 and 21.3 points were observed in the "65 Insurance, Reinsurance, and Pension Funds (excluding mandatory social security services)" and "66 Auxiliary Activities for Financial Services and Insurance Activities" sectors, respectively."