articles | 31 October 2014

Economic sentiment deteriorates in October 2014

The economic sentiment in Cyprus deteriorated for the second consecutive month in October 2014, according to the monthly report of the Directorate General for Economic Affairs of the European Commission.

The Economic Sentiment Indicator (ESI) fell to 98.8 points in October from 99.8 points in September. 

After four months of stagnation or decline, the ESI picked up in both the euro area (by 0.8 points to 100.7) and the EU (by 0.5 points to 104.0).

The euro-area indicator thereby went back to just above its long-term average of 100. 

ESI is a composite indicator made up of five sectorial confidence indicators with different weights: Industrial confidence indicator, Services confidence indicator, Consumer confidence indicator, Construction confidence indicator, Retail trade confidence indicator. 

Only the consumers’ confidence improved in Cyprus, while the services, construction, industrial and retail trade indicators deteriorated.

Source: Financial Mirror

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