In September 2019, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 1.3 points compared with August 2019, the Economic Research Centre of the University of Cyprus said on Thursday.
The increase resulted from stronger business confidence in services and industry as well as from confidence improvements among consumers.
* The increase in the Services Confidence Indicator was driven by firms’ more favourable views on their past performance (business situation and demand).
* The marginal decrease in the Retail Trade Confidence Indicator resulted from more adverse assessments of the volume of stocks.
* The Construction Confidence Indicator increased marginally due to improved assessments of the level of order books.
* The increase in the Industry Confidence Indicator was driven by more favourable assessments of the stocks of finished products and upward revisions in production expectations.
* The Consumer Confidence Indicator increased mainly due to more optimistic assessments of the future economic conditions in Cyprus and less pessimistic responses regarding consumers’ intentions to make major purchases in the near future.