Economic sentiment continues to climb
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.