In July 2023, Financial Services Confidence Index increased by 3.7 points compared to the previous month and rose to 162.3. According to the statement made by the Central Bank of the Republic of Turkey (CBRT), when the diffusion indices of the survey questions that make up the index are analyzed, it is seen that the business situation in the last three months and the expectation of demand for services in the next three months have affected the Financial Services Confidence Index in an upward direction, while the demand for services in the last three months has affected the index in a downward direction.
In the statement, it was emphasized that the evaluations regarding the improvement in the business situation and the demand for services in the last three months became stronger compared to the previous month. Likewise, it was stated that the evaluations regarding the increase in the demand for services in the last three months weakened somewhat, but the expectations for an increase in the demand for services in the next three months strengthened.
In the evaluations regarding employment, it was stated that the course in favor of those who reported a decrease in employment in the last three months turned in favor of those who reported an increase, while the trend in favor of those who expected an increase in employment in the next three months became somewhat stronger.
In terms of profitability, it was announced that the trend in favor of those who reported an increase in profitability in the last three months and those who expected an increase in the next three months became stronger compared to the previous period.
In the evaluations regarding the competitiveness, it was noted that the evaluations regarding the improvement in the competitiveness in the domestic markets in the last three months have strengthened compared to the previous period, while the expectation of improvement in the next three months has weakened somewhat. In addition, it was stated that there has been an improvement in the last three months regarding the competitiveness in foreign markets, a strengthening in the foreign markets within the EU, and a weakening in the foreign markets outside the EU. In the next three months, it was stated that the expectation of improvement regarding the competitiveness in foreign markets, strengthening in the foreign markets within the EU and weakening in the foreign markets outside the EU are expected.
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