Εconomic sentiment improves in April

07:17 - 30 April 2024

Economy Reporter

In April 2024, economic sentiment in Cyprus improved after two months of deterioration, as the Economic Sentiment Indicator (ESI-CypERC) increased by 0.8 points compared with March.

According to the Economic Research Centre of the University of Cyprus (CypERC) the increase in the ESI-CypERC was driven by gains in business confidence in all sectors.

The Services Confidence Indicator increased marginally, CypERC reports, as a result of upward revisions in turnover expectations. Moreover, the increase in the Retail Trade Confidence Indicator was driven by improved views on the current stock levels and upward revisions in sales expectations.

The increase in the Construction Confidence Indicator was due to improved assessments of the current levels of order books and upward revisions in employment expectations.

Additionally, the Industry Confidence Indicator rose markedly, as all its components improved (i.e. views on current overall order books, assessments of the stocks of finished products, and production expectations).

On the other hand, the Consumer Confidence Indicator declined in April, as consumers lowered their expectations about their financial situation and about the general economic conditions in the country. In April, consumers’ intentions to make major purchases over the next months remained about as weak as in March.

Economic uncertainty in Cyprus increased marginally, on account of higher uncertainty experienced by firms in services and retail trade.

(Source: CNA)

Εconomic sentiment improves in April

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