Economic Sentiment Indicator falls to 113.3 points in February 2017

The Economic Sentiment Indicator (ESI) in Cyprus decreased to 113.3 points in February 2017 from 114.1 in January mainly due to a fall in consumer confidence by -3.2 points and construction confidence by -23.1points, according to the latest index released by DG ECFIN.

Meanwhile confidence in retail trade increased by 4.9, services confidence by 26.2 and the industry by 3.5 points. The Economic Sentiment Indicator in Cyprus was also at 113.3 points in December 2016.

In February, the Economic Sentiment Indicator remained broadly unchanged in both the euro area (+0.1 points to 108.0) and the EU (+0.3 points to 108.91). During the same month, the Business Climate Indicator (BCI) for the euro area increased slightly compared to January 2017 (+0.06 to +0.82). Managers’ views on both their overall and export order books improved strongly, while their assessment of the past production improved more moderately. Meanwhile, managers’ assessments of their stocks of finished products and their production expectations worsened.

Source: Famagusta Gazette