Cyprus Composite Leading Economic Index (CCLEI) recorded an annual increase of 13.4% in July 2021, after year-over-year increases of 14.5% in June and 14.0% in May.
According to a press release, compiled by the University of Cyprus’ Economic Research Centre (ERC), economic activity continues to recover, but uncertainty remains amid the increased rates of COVID-19 cases in July.
The recording of positive year-over-year growth rates of the CCLEI continues in July 2021, albeit weaker. The positive year-over-year growth rate of CCLEI is due, in part, to the steady progress of vaccination campaigns and the improved expectations and conditions it creates. However, the increased incidence rates in July underline the uncertainty due to the COVID-19 pandemic and all its interrelated mutations.
The Cyprus Composite Leading Econ
Source: Cyprus News Agency