Economic uncertainty in November remained at the same levels as in the summer months of 2022, according to the Economic Research Center of the University of Cyprus.
It says that during the last quarter, the level of uncertainty measured by the Cyprus Economic Policy Uncertainty index (EPU) is very close to that during the summer months much lower compared to spring, when economic uncertainty in Cyprus reached unprecedented levels due to the Russia-Ukraine war.
“During the last quarter, the level of uncertainty measured by the Cyprus EPU index is very close to that during the summer months. Specifically, the EPU index in August was 248.28, while in November it was 246.88, much lower compared to spring, when economic uncertainty in Cyprus reached unprecedented levels due to the Russia-Ukraine war”.
It adds that during the autumn of 2022, the EPU index was equal to 281.22, 256.67, and 246.88 in September, October, and November, respectively.
Uncertainty in September had a temporary small peak, partly due to the political instability in the United Kingdom, while in October and November uncertainty fell back to a lower level.
The Cyprus EPU index shows that uncertainty is still at higher levels compared to those during the pre-pandemic era, it points out.
The European EPU index is also rising during September. Contrary to the Cyprus EPU, the European EPU peak in September is relatively higher than the one in March due to the Russia-Ukraine war in spring.
Source: Cyprus News Agency