Cyprus Mail
BusinessCyprus

Economic sentiment rises in July

The economic sentiment indicator rose by two units in a month in July, to 111,1, on improved confidence among companies in the services, construction, and industrial sectors, the University of Cyprus said.

The increased business confidence in services is attributed to a more favourable evaluation of the interviewed companies’ financial situation and an upward revision of demand expectations over the next three months, the Economic Research Centre (ERC) of the university said in a statement on Tuesday.

Business confidence in construction rose on an improved evaluation of future employment levels and on increased output expectations in industry, the ERC said.

On the other hand, confidence in retail trade deteriorated marginally on unfavourable responses by interviewed companies on inventories and future sales, the centre said.

Lastly, consumer confidence fell as a result of households being less optimistic about their financial situation, as well as that of the island, the situation on the labour market, and savings.

Related Posts

UK interest rate rise on the back of higher inflation

CM Guest Columnist

My kids don’t know the sea isn’t supposed to be full of plastic bits

Iole Damaskinos

Something rotten in the state of local veggies

Theo Panayides

Ineia landowners plan to block roads next Sunday to protest Akamas plan

Jean Christou

The risk of economic stagnation

CM Guest Columnist

Debt restructurings slow down in 2022 following a record year