In May 2019, economic sentiment in Cyprus deteriorated as the Economic Sentiment Indicator (ESI‐CypERC) decreased by 1.3 points compared with April 2019, the Economic Research Centre of the University of Cyprus said on Monday.
It attribute the drop to a worsening of economic confidence in services,retail trade, industry and among consumers.
* The Services Confidence Indicator declined due to a deterioration in firms’ assessments of their recent business situation, and downward revisions in demand expectations.
* The Retail Trade Confidence Indicator decreased marginally as a result of more adverse assessments of recent sales and the volume of stocks.
* The increase in the Construction Confidence Indicator was driven by more favourable assessments of the current level of firms’ order books, and more optimistic employment expectations.
* The Industry Confidence Indicator declined as a result of a deterioration in firms’ views on the current level of order books and the stocks of finished products.
* The decrease in the Consumer Confidence Indicator was driven by less favourable responses regarding households’ financial conditions and consumers’ intentions to make major purchases.