In December 2021, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 2.1 points compared with November 2021.
According to a University of Cyprus’ press release the increase in the ESI-CypERC resulted from stronger business confidence in services, construction and industry.
The increase in the Services Confidence Indicator was mainly driven by upward revisions in demand expectations.
The Retail Trade Confidence Indicator remained unchanged as the improved views on past and future sales were offset by a deterioration in the assessments of current stock levels.
The Construction Confidence Indicator improved slightly as a result of upward revisions in employment expectations, despite a deterioration in the assessments of the current levels of order books.
Source: Cyprus News Agency