The year-over-year growth rate of a leading indicator used to predict the future direction of economic movements in Cyprus, remained stable in June, as a result of opposing trends within the economic indicators composing the CCLEI, the University of Cyprus said in a monthly report. The Cyprus Composite Leading Economic Index (CCLEI), estimated by the … Read more
A leading indicator, used to predict the future direction of economic movements in Cyprus, turned marginally positive in May, halting the negative year-on-year growth of the index observed in the past three months. The Cyprus Composite Leading Economic Index (CCLEI), estimated by the Economics Research Centre (CypERC) of the University of Cyprus, recorded a year-over-year … Read more
German business morale stagnated in May, with the Ifo institute reporting that the business climate index remained constant at 89.3, falling short of the forecasted improvement. The German economy is expected to have slow progress in its recovery this year, with companies being less satisfied with the current business situation. Despite some sectors recovering, the overall outlook remains cautious.
The Cyprus Composite Leading Economic Index (CCLEI) remained negative for the third consecutive month in April, with a year-over-year decrease of 0.6%. This was driven by a slowdown in tourist arrivals and an increase in crude oil prices.
The number of building permits in Cyprus rose to 706 in February, up from just below 600 each in January and December.
British house prices increased by 0.1% in April compared to the previous month and were 1.1% higher than a year earlier.
The EURUSD pair is gaining ground due to positive market sentiment and dovish remarks from Federal Reserve Chairman Jerome Powell. Powell dismissed the likelihood of a further interest rate hike and mentioned that progress on inflation has stalled. Traders are awaiting US economic data releases, while the Eurozone may struggle due to a more dovish stance from the European Central Bank. Eurozone inflation held steady in April, with bets for a potential interest rate cut by the ECB in June.
The Cyprus Composite Leading Economic Index (CCLEI) saw a year-over-year decrease of 0.9% in March, indicating a slowing economy on the island.
The EURUSD fell to a near five-month low around 1.0660 due to speculation that the European Central Bank will begin reducing interest rates from the June meeting.
The Cyprus Composite Leading Economic Index (CCLEI) is showing a downward trend and is about to flatline at 0% growth.