Eco­nomic Up­date: Is­sue 1/2017

Malta Independent - - BUSINESS -

The Cen­tral Bank of Malta has just pub­lished its lat­est Eco­nomic Up­date, based on in­for­ma­tion avail­able up to 10 Jan­uary 2017.

The Bank’s Busi­ness Con­di­tions In­dex (BCI) sig­nalled above nor­mal ac­tiv­ity lev­els in De­cem­ber. Over­all eco­nomic sen­ti­ment rose marginally dur­ing the month.

In Novem­ber, re­tail sales and tourism ac­tiv­ity were higher in an­nual terms, but in­dus­trial pro­duc­tion de­clined.

Labour mar­ket con­di­tions re­mained favourable, with the reg­is­tered un­em­ploy­ment fall­ing fur­ther dur­ing the month.

Price pres­sures re­mained mod­er­ate, with the an­nual rate of in­fla­tion based on the Har­monised In­dex of Con­sumer Prices (HICP) and the Re­tail Price In­dex (RP) at 0.8% and 0.7%, re­spec­tively.

Mal­tese res­i­dents’ de­posits rose at a faster rate in Novem­ber, while the an­nual rate of growth of credit to res­i­dents eased.

As re­gards fis­cal de­vel­op­ments, the deficit on the cash-based Con­sol­i­dated Fund nar­rowed in the first eleven months of the year, mainly due to higher tax rev­enue.

The Eco­nomic Up­date is avail­able on the web­site of the Cen­tral Bank of Malta www.cen­tral­

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