Econ sen­ti­ment im­proves in April, pro­duc­tiv­ity up

Financial Mirror (Cyprus) - - FRONT PAGE -

Busi­ness and con­sumer con­fi­dence is im­prov­ing from the record low in May 2013 af­ter the bank­ing sec­tor melt­down and seem to be reach­ing lev­els not seen since late-2008, ac­cord­ing to the Uni­ver­sity of Cyprus re­search.

The Eco­nomic Sen­ti­ment In­di­ca­tor of the UCy Eco­nomic Re­search Cen­tre (ESI CypERC) im­proved by four points in April and reached 107.7, up from 103.7 in March, due to an im­proved busi­ness cli­mate in all sec­tors, as well as an in­crease in eco­nomic con­fi­dence by con­sumers.

The sur­vey said that sec­torally, the im­prove­ment in ser­vices is due to favourable rat­ings of the econ­omy and an in­crease in turnover. The cli­mate in the re­tail sec­tor, con­struc­tion and man­u­fac­tur­ing showed some im­prove­ment, but re­mained in neg­a­tive ter­ri­tory.

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