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Economic sentiment deteriorates

25/11/2015 16:50
Economic sentiment deteriorated in November 2015 after showing a health improvement since July.

According to figures of the Economic Research Centre of the University of Cyprus, the economic sentiment index (ESI) in November stood at 106,3 points compared to 107,6 in October.

The previous month it had improved in comparison with September.

As stressed, despite the decrease, the index continues to be at a relatively high level.

The decrease of the index in November is entirely due to the deterioration of the economic climate in the services sector which is a result of the less optimistic responses regarding the economic situation of businesses during the last three months and expected demand for the next three months.

The retail trade sector improved at the back of less pessimistic responses pertaining to sales in the past three months and expectations for increased sales in the next three months.

The construction sector also improved due to less pessimistic responses as to the current overall order book and expected employment in the next three months.

The consumers sector marginally improved based on expectations of improved conditions in the labour market in the next twelve months.

The industry sector remain unchanged.