articles | 01 June 2018

Economic sentiment worsens in May 2018, University of Cyprus says

The economic sentiment index fell in May 2018 by 2.9 points, to 116.1, in a month on worsening confidence in the sectors of services, industry, and among consumers, the University of Cyprus said.

The decline in confidence in services last month resulted from the interviewed companies’ assessments of business conditions over the past three months combined with a downward revision of expected demand, the Economic Research Centre (ERC) of the university said in a statement on Friday. Companies in the industrial sector cited their inventories of finished products for the declining confidence and a downward revision in expected output.

On the other hand, retail trade companies said their assessment of stock volumes improved and expected more sales in May compared to the month before, the ERC said. Construction companies were also upbeat on more favourable assessment of their order book.

Consumer confidence fell marginally as households expected their future financial conditions and Cyprus’s economic situation to worsen, it said.

Source: Cyprus Mail

Cooperation Partners
  • Logo for Cyprus Shipping Chamber
  • Logo for Ministry of Energy, Commerce, Industry and Tourism
  • Logo for Association of Cyprus Banks
  • Logo for CYFA Cyprus
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus International Businesses Association
  • Logo for Invest Cyprus
  • Logo for Cyprus Investment Funds Association