Eco­nomic sen­ti­ment un­changed in June

Financial Mirror (Cyprus) - - FRONT PAGE -

The monthly Eco­nomic Sen­ti­ment In­di­ca­tor (ESI) re­mained un­changed at 104.2 points in June, due to a mar­ginal drop in con­sumer con­fi­dence and an equal im­prove­ment in busi­ness con­fi­dence in the re­tail, con­struc­tion and man­u­fac­tur­ing sec­tors.

The Eco­nom­ics Re­search Cen­tre of the Univer­sity of Cyprus said that cli­mate change in re­tail was af­fected by a lesser-neg­a­tive sen­ti­ment in sales in the sec­ond quar­ter and pro­jec­tions for fu­ture sales.

The con­struc­tion sec­tor ben­e­fited from a “lesser pes­simistic” view of jobs in the next quar­ter, while the im­prove­ment in man­u­fac­tur­ing re­sulted from a “lesser neg­a­tive” cli­mate due to cur­rent or­ders and in­crease in pro­duc­tiv­ity.

The ser­vices sec­tor re­mained ba­si­cally un­changed from May.

The mar­ginal drop in con­sumer con­fi­dence arose from a neg­a­tive view of con­sump­tion lev­els and house­hold in­comes in gen­eral and over the next 12month pe­riod.

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