The economic sentiment indicator in May rose above the long-term average of 100 points in May, reflecting the improvement of business sentiment in Cyprus, as economic activity returns gradually to normality.
The Economic Sentiment Indicator (ESI) compiled by the University of Cyprus’ Economic Research Centre, in May rose by 7.6 units compared with the previous month reaching 104.1 units. The ESI returned above the long-term average of 100 units since March 2020, before the COVID-19 pandemic outbreak in Cyprus.
The ESI has been moving upward since March 2021 reflecting the favourable conditions for economic activity in the coming quarters, the ERC said.
The increase in the ESI was driven by improvements in business confidence in all sectors.
According to the ERC, the Services Confidence Indicator increased strongly for the thi
Source: Cyprus News Agency