Economic sentiment in Cyprus rises
Economic sentiment in Cyprus improved in April 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 Center 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 thanks 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.
