Economic sentiment falls in October 2014

Economic sentiment fell in October by 0.5 points compared to the month before mainly on a deterioration of investor confidence in all economic sectors to 100.5 points compared to 85 points a year ago, the University of Cyprus said.

Investor confidence fell the most in construction and retail trade mainly on more pessimistic expectations on business volume in the three months to follow by a monthly 5 points and 3 points to -52 points and -15 points respectively, the Economics Research Centre of the university said in an email statement.

Investor confidence in construction fell by 2 points compared to the month before to -11 points as companies expect turnover to continue to fall in the next three months.

Consumer confidence rose by 1 point to -30 in October compared to September mainly on an expected improvement on the labour market, the centre said.

Source: Cyprus Mail

Cyprus Profile

articles | 30 October 2014