In July 2018, the economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESICypERC)
increased by 2.0 points compared with June 2018, the Economic Research Centre of the University of Cyprus said on Tuesday.
It said the increase was driven by stronger business confidence in services, construction and industry.
* The Services Confidence Indicator increased as a result of firms’ more optimistic views on past business situation as well as past and expected demand.
* The Retail Trade Confidence Indicator decreased marginally as respondents’ views on current stock volumes and future sales deteriorated.
* The Construction Confidence Indicator improved due to firms’ more favourable assessments of future employment plans.
* The Industry Confidence Indicator increased due to a significant upward revision in production
* The Consumer Confidence Indicator decreased as a result of consumers’ less favourable responses regarding their future financial conditions and the future economic conditions in Cyprus, including labour market conditions. Furthermore, consumers revised their savings expectations downwards, affecting the Indicator negatively.