In November 2018, economic sentiment in Cyprus improved as the Economic Sentiment Indicator
(ESI-CypERC) increased by 2.6 points compared with October 2018.
The increase was driven by stronger business confidence in services and retail trade, the Economics Research Centre of the University of Cyprus said.
* The Services Confidence Indicator increased as a result of firms’ improved assessments of their past
business situation and their past demand.
* The Retail Trade Confidence Indicator increased as respondents’ views on current stock volumes and
future sales improved.
* The Construction Confidence Indicator deteriorated due to firms’ less favourable assessments of their
current level of order books, and downward revisions in employment expectations.
* The Industry Confidence Indicator decreased due to a large downward revision in production
* The decrease in the Consumer Confidence Indicator was driven by downward revisions in consumers’
expectations about their future financial conditions and the future economic conditions in Cyprus