Economic sentiment deteriorates in September

Economic sentiment in Cyprus deteriorated in September 2016 as the Economic Sentiment Indicator (ESI-CypERC) decreased by 3.2 points compared to August 2016 as a result of the worsening of business confidence in services, retail trade and industry, according to the results of a business and consumer survey by the University of Cyprus Economics Research Centre.

The Services Confidence Indicator declined due to firms’ less optimistic assessments of past business situation and downward revisions in their turnover expectations over the next three months.

Source: Cyprus News Agency.