Economic sentiment indicator falls in Cyprus from 116.1 in May to 115.5 points in June

In June, the Economic Sentiment Indicator (ESI) recorded a marked increase in the euro area by 1.9 points (to 111.1), and the EU by 1.6 points (to 111.3), reaching the highest levels since August 2007.

The same index decreased in Cyprus form 116.1 points in May to 115.5 points in June.

Improved euro-area sentiment resulted from marked increases in confidence in the industry, retail trade and construction sectors and among consumers and, to a lesser extent, from a slight increase in confidence in the services sector.

Amongst the largest euro-area economies, the ESI rose strongly in Germany (+2.4), France (+2.2) and the Netherlands (+1.6) and slightly in Spain (+0.5), while it remained unchanged in Italy (0.0).

The marginally less optimistic outcome for the EU ESI (+1.6) resulted from comparatively smaller improvements of sentiment in the largest non-euro area EU economies, the UK (+1.1) and Poland (+1.1).

Meanwhile again in June 2017, the Business Climate Indicator (BCI) for the euro area increased (+0.25 points to +1.15).

Source: Cyprus News Agency