![](\"https:\/\/www.financialmirror.com\/wp-content\/uploads\/2024\/05\/UCy-ESI-BCS_05_2024_EN-1-1024x503.jpg\")
<\/p>\n","protected":false},"excerpt":{"rendered":"Economic sentiment in Cyprus improved in May, as the benchmark Economic Sentiment Indicator (ESI-CypERC) increased by 1.6 points from April to 104.5, up 1.4 points from May last year.<\/p>\n
The University of Cyprus Economics Research Centre, that compiles the monthly survey, said the ESI-CypERC increase was mainly driven by stronger business confidence in services, despite a drop in retail trade and construction.<\/p>\n
The increase in the Services Confidence Indicator was due to firms\u2019 improved views on their past business situation and their recent turnover.<\/p>\n
The small drop in the Retail Trade Confidence Indicator resulted from worsening assessments of past sales and downward revisions in sales expectations.<\/p>\n
The Construction Confidence Indicator declined, as firms assessed their current levels of order books more negatively and revised their employment expectations downwards.<\/p>\n
The Industry Confidence Indicator remained unchanged in May, as the improvement in production expectations was offset by a deterioration in the assessments of the current level of order books and in the views on stocks of finished products.<\/p>\n
The Consumer Confidence Indicator rose marginally in May.<\/p>\n
Consumers\u2019 expectations about their financial situation and the general economic conditions in Cyprus improved; however, consumers\u2019 intentions to make major purchases over the next months weakened in May.<\/p>\n
On the other hand, economic uncertainty in Cyprus decreased in May, owing to the lower uncertainty levels among consumers and among firms in all sectors, except construction. <\/p>\n","protected":false},"excerpt":{"rendered":"
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.<\/p>\n","protected":false},"author":4,"featured_media":13587,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[8625,1863,186,5732,1498,1625,3769,2021,3,6387,7829,376,1803,26,27,307,8337,377,4818,7132,1823,1991,8872,7320,6074,10244,6106,1824,1806,6386,1229,1006,4575,309,5265,7850,832],"class_list":["post-13586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-april","tag-assessments","tag-business","tag-conditions","tag-confidence","tag-construction","tag-consumer-confidence","tag-consumers","tag-cyprus","tag-deterioration","tag-economic-conditions","tag-economic-sentiment","tag-economic-uncertainty","tag-economy","tag-employment","tag-erc-economics-research-centre","tag-esi","tag-esi-cyperc","tag-expectations","tag-improvement","tag-increase","tag-industry","tag-production","tag-products","tag-research","tag-retail","tag-sales","tag-sectors","tag-services","tag-situation","tag-survey","tag-trade","tag-turnover","tag-ucy-university-of-cyprus","tag-uncertainty","tag-university","tag-university-of-cyprus"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n