As we find ourselves in a crucial period of economic transition, with positive but slowing growth, we are facing some critical policy decisions with major impacts on consumers, the retail industry and the broader economy. National Retail Federation Chief Economist Jack Kleinhenz recently highlighted that, much like in 2017, we are in a phase of waiting … Read more
The Economic Sentiment Indicator (ESI-CypERC) in Cyprus increased by 1.6 points in May to 104.5, up 1.4 points from the previous year.
Fact: Electronic Arts (EA) forecast full-year bookings below Wall Street estimates due to a broader spending slowdown in the gaming industry.
The University of Cyprus Economic Sentiment Indicator (ESI-CypERC) increased by 0.8 points in April compared to March, driven by gains in business confidence in all sectors.
In April 2024, the Economic Sentiment Index (ESI) increased by 0.8 units compared to March 2024. The rise in ESI was driven by a stronger business climate in the manufacturing and construction sectors. Retail trade also saw a slight increase in climate due to more positive assessments of inventory levels and sales expectations. However, consumer sentiment declined in April, with consumers feeling more pessimistic about the future economic situation. Additionally, the Economic Uncertainty Index increased slightly in April, mainly due to greater uncertainty among businesses in the services and retail trade sectors.
Microsoft is closing the gap on cloud-computing market leader Amazon.com with its generative AI features powered by OpenAI’s technology.
Investors are rushing into fixed yield opportunities before interest rates are cut, as central banks signal looser monetary policies due to cooling inflation.
Fact: The halving process in Bitcoin reduces the rate at which new coins are created, ensuring its scarcity and controlling its inflation rate.
The Economic Sentiment Indicator (ESI) in Cyprus decreased by 1.2 units in March 2024, falling to 102.1 units due to a deterioration in the business climate across all sectors.
The level of economic uncertainty in Cyprus, as measured by the Economic Policy Uncertainty (EPU) index, fluctuated from December 2023 to February 2024. It increased in January 2024 to 279.76, attributed to geopolitical turmoil, including the crisis in the Middle East and the Red Sea, before dropping to 221.14 in February. This pattern of fluctuation was also observed in the European EPU index. The University of Cyprus noted that economic uncertainty in Cyprus has been historically high, with significant peaks in 2012 due to the banking crisis, in 2020 due to the Covid-19 pandemic, and in 2022 due to the Russia-Ukraine war.