The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 10.8% in August 2021, reaching a level of 114.1, after year-over-year increases of 11.2% in July and 11.7% in June.
According to a Hellenic Bank’s press release, the CCLEI continues to record positive year-over-year growth rates in July and August 2021, albeit somewhat weaker.
More specifically, according to preliminary data in August, a positive effect on the CCLEI and domestic economic activity is still exerted by tourist arrivals, which present a relatively good tourist depiction in August amid a 4th wave of the pandemic, as well as the volume of retail sales.
Moreover, the positive year-over-year performance of the CCLEI is also due to the total number of property sales contracts, as well as the value of credit card transactions. In addition, the
SOURCE: CYPRUS NEWS AGENCY