Eco­nomic sen­ti­ment continues to climb

Financial Mirror (Cyprus) - - FRONT PAGE -

The monthly eco­nomic sen­ti­ment in­di­ca­tor con­tin­ued to rise last month to 101.3 points, but at a slower pace than the 2.3-point in­crease seen in May.

The ESI for June rose for the 14th con­sec­u­tive month and by 0.6 points month-on-month, due mainly to a rise in con­sumer con­fi­dence and a mar­ginal im­prove­ment in the con­struc­tion sec­tor, said the Eco­nomic Re­search Cen­tre of the Univer­sity of Cyprus that con­ducts the EU-linked sur­vey in col­lab­o­ra­tion with RAI Con­sul­tants.

The sur­vey found that con­sumer con­fi­dence was boosted by “the gen­eral eco­nomic sit­u­a­tion and the rate of un­em­ploy­ment, and a lesser neg­a­tive at­ti­tude to­wards sav­ings.” The sen­ti­ment in the con­struc­tion sec­tor im­proved marginally due to a “less pes­simistic re­view and projects un­der­way the past three months.”

The ESI rose fur­ther in May, for the 13th con­sec­u­tive month, this time get­ting a boost from the ser­vices sec­tor and the en­hanced con­fi­dence of house­holds. Im­prove­ment in the eco­nomic cli­mate was also recorded in the EU28 and the Eu­ro­zone.

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