CCLEI up by 1.8% in May on annual basis, UCY CypERC says

07:46 - 28 May 2025

Economy Reporter

The Cyprus Composite Leading Economic Indicator (CCLEI), which is constructed and estimated by the Economics Research Centre (CypERC) of the University of Cyprus, recorded a year-over-year increase of 1.8% in May 2025.

The CypERC said in a press release on 27 May that this increase follows year-over-year increases of 2.6% in April and 3.2% in March 2025, based on the most recently revised data.

As stated, the CCLEI maintained its upward trend, although its growth rate continues to be slow, with this trend reflecting corresponding developments in the individual leading economic components of the Index, in particular as a result of both the weakening in the year-over-year growth rate of the ESI in Cyprus and the deterioration of the economic climate in the euro area during the months of April and May 2025.

It is added that weekly high-frequency data on electricity production, adjusted for temperature, indicate a decrease in its year-over-year growth rate, however, the positive development of other components of the CCLEI – such as property sales contracts, tourist arrivals, transactions with Cypriot credit cards, and retail trade volume – as well as the fall in the Brent crude oil price, according to weekly data, contributed positively to the growth of the CCLEI.

The slowdown in the positive growth rate of the CCLEI reflects the pressures exerted by the external economic environment, underlining the need to monitor developments and assess the medium-term prospects of the Cypriot economy, the CypERC concluded.

(Source: CNA)

CCLEI up by 1.8% in May on annual basis, UCY CypERC says

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