Insider Economy Economic sentiment improves in August

Economic sentiment improves in August

Economic sentiment in Cyprus improved in August as the Economic Sentiment Indicator (ESICypERC) increased by 3.6 points compared with July 2019.

The increase comes after a 12 month low in July and resulted from stronger business confidence in the service sector and, to a lesser extent, from confidence gains in the retail trade and construction sectors.

The large increase in the Services Confidence Indicator was driven by firms’ more favourable views on their past performance (business situation and demand) and upward revisions in demand expectations.

The marginal increase in the Retail Trade Confidence Indicator resulted from firms’ improved assessments regarding their stock volumes.

The increase in the Construction Confidence Indicator was mainly due to upward revisions in employment expectations.

The decrease in the Industry Confidence Indicator resulted from less favourable assessments of the stocks of finished products and downward revisions in production expectations.

The Consumer Confidence Indicator decreased marginally as consumers’ expectations about the future economic conditions in Cyprus were revised downwards and consumers’ intentions of making major purchases weakened.

 

https://in-cyprus.com/economic-sentiment-hits-12-month-low-in-july/

Top Stories

Bikes, gin and chickpeas on auction by Limassol customs

  Motorbikes, furniture, gin and bags of Egyptian chickpeas will go under the hammer on June 18 at the public warehouse of Limassol Customs. Notification of...

Karousos visits ancient monuments, urges public to explore Cyprus

  Transport Minister Yiannis Karousos marked today's reopening of museums, archaeological sites and monuments with a visit to Kolossi Castle and the archaeological sites of...

Erosion at Fig Tree Bay before start of tourist season (photos)

The sand is gone and rocks have emerged on Fig Tree Bay, one of the most popular beaches on the island as thousands of...

President hails today’s start of stage two of GHS as ‘historic’

President Nicos Anastasiades on Monday hailed today's start of phase two of the general health scheme (GHS) which covers inpatient care as historic. In a...

Families on foster parenting: “Our entire worldview has changed”

"When they brought the children they were very small. One was 5 1/2 months old and the other younger than 1 1/2 year; still...

Taste

Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...

Spiced lamb with beetroot salad and scented yoghurt

Lay the lamb on a tray, skin side down. Rub with crushed garlic, sprinkle with spices and ground pistachios, wrap in plastic wrap and...

Easy seafood pasta with white wine sauce

Ingredients: 2-3 tbsp olive oil 1 garlic clove, chopped 2-3 tablespoons of whipped cream 1/3 cup white wine 300g spaghetti, roughly broken 300-400g of...

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...