30/07/2015 13:03
Cyprus economic sentiment moved to the opposite direction than the rest of Europe in July, in the shadow of developments in Greece.
According to the monthly report of the General Directorate for Economic Affairs of the European Commission, the economic climate in the EU inched up in July, in contrast to the deterioration recorded in June.
Amongst the largest euro-area economies, the ESI increased in Germany (+1.0), France (+0.8) and, more tentatively, the Netherlands (+0.4), while it remained broadly unchanged in Spain (+0.3) and Italy (-0.1).
Improved euro-area sentiment resulted from higher confidence in industry, services and retail trade, which was only partially outweighed by lower consumer confidence. The construction sector posted broadly unchanged readings.
Euro area economic sentiment indicator rose by 0.5 points to 104.0 points from 103.5 points in the previous month. In the EU as a whole the index rose by 1.1 points to 106.6 points from 105.5 points in June.
Following this month’s rapid developments and the difficult course of the country towards a new bailout, economic sentiment in Greece deteriorated significantly as it declined by 9.4 points to 81.3 points from 90.7 points.
In Cyprus the economic sentiment indicator fell by 3.8 points to 100.3 points from 104.1 points in June.
According to the monthly report of the General Directorate for Economic Affairs of the European Commission, the economic climate in the EU inched up in July, in contrast to the deterioration recorded in June.
Amongst the largest euro-area economies, the ESI increased in Germany (+1.0), France (+0.8) and, more tentatively, the Netherlands (+0.4), while it remained broadly unchanged in Spain (+0.3) and Italy (-0.1).Improved euro-area sentiment resulted from higher confidence in industry, services and retail trade, which was only partially outweighed by lower consumer confidence. The construction sector posted broadly unchanged readings.
Euro area economic sentiment indicator rose by 0.5 points to 104.0 points from 103.5 points in the previous month. In the EU as a whole the index rose by 1.1 points to 106.6 points from 105.5 points in June.
Following this month’s rapid developments and the difficult course of the country towards a new bailout, economic sentiment in Greece deteriorated significantly as it declined by 9.4 points to 81.3 points from 90.7 points.
In Cyprus the economic sentiment indicator fell by 3.8 points to 100.3 points from 104.1 points in June.