Headline: Growing Confidence in Financial Services

In October, the Financial Services Confidence Index rose by 9.8 points from the previous month, reaching a level of 167.6. According to a statement, upon examining the diffusion indices of the survey questions constituting the index, it is observed that the business situation over the past three months and the demand for services positively influenced the index. However, expectations for the demand for services over the next three months had a slightly negative impact on the index.

The statement noted: "Assessments regarding the business situation and demand for services indicate that evaluations of an improvement in business conditions and an increase in demand for services over the past three months have strengthened compared to the previous month. Expectations of increased demand for services in the upcoming three months show some weakening.

Regarding employment assessments, the trend favoring those reporting an increase in employment over the past three months has weakened, and the trend favoring those expecting an increase in employment over the next three months has shifted in favor of those anticipating a decline.

Regarding profitability over the past three months, the trend that previously favored those reporting a decrease has shifted in favor of those reporting an increase. Expectations for increased profitability over the next three months have strengthened.

In October 2024, when evaluating confidence indices in the "Financial and Insurance Activities" sector according to the NACE Rev.2 sector classification, it is observed that there were increases of 10.7 and 0.4 points, respectively, in the sub-sectors "64-Financial Service Activities (excluding insurance and pension funds)" and "65-Insurance, Reinsurance and Pension Funds (excluding compulsory social security services)." Conversely, there was a decrease of 24.7 points in the "66-Activities Auxiliary to Financial Services and Insurance Activities" sector compared to the previous month.