WEDNESDAY, 23 JAN 2019

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2018_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Cyprus Ready to Contribute for Better Results in the EU -Arab States Summit

Cypriot, Greek and Israeli Diaspora Leaders Meet February in Jerusalem

IMH LTD
GAP_Group_2018_468x60px

ECONOMY

Economic Climate Improves in December 2018

Economic Climate Improves in December 2018

The economic climate improved in December 2018 by 3.4 points, assisted by the improvement of the business climate in services and manufacturing industry.
 
The Economic Sentiment Indicator, composed by the Economics Research Centre of the University of Cyprus, stood during the last month of 2018 at 118.6 points, compared to 115.2 points in November 2018. The Index reached a record high on January 2018 with 119.8 points.
 
According to the Economics Research Centre, the Index reached on average 115.4 points throughout 2018, compared to 114.8 in 2017.
 
The reason for this rise is, according to the Centre, the significant improvement of business trust in constructions, in comparison to 2017.
 
The Centre also notes that high levels of economic trust achieved in Cyprus are expected to act favorably for economic activity in the following quarters.

The Centre also says that the rise of the Index is mostly attributed to the improvement of the business climate in services and industry, while the climate’s marginal improvement in constructions and among consumers had no significant impact.

The rise of the business climate in services is related to more positive reviews of the current economic situation and better turnover for businesses in the last quarter. Moreover, it has to do with enhanced expectations for an increased turnover in the next quarter.
 
The upgraded climate in the manufacturing industry is due to improved evaluations about current stock and more positive estimates for the future production, it is added.
 
The climate in construction improved only marginally, due to less negative reviews of ongoing projects. The climate deteriorated in retail, due to less favorable reviews of the current situation (sales, stock) and more composed estimates about sales in the next quarter.
 
Consumers reviewed their expectations slightly upwards regarding the future economic situation of their households and of Cyprus in general, contributing thus to a marginal improvement of consumer sentiment.

 

MORE ON ECONOMY

Funds For ESTIA Scheme Released by Majority Vote

Parliamentary Committee on Financial and Budgetary Affairs has released the funds for the ...

Review of the Cypriot Banking Sector for 2018

Assessing the current state of the Cypriot banking sector, one could say that 2018 was a ...

Inflation Increases by 0.8% in 2018

In December 2018 the Harmonized Index of Consumer Prices increased by 1.0% compared to ...

FROM AROUND GOLDNEWS

   

Cypriot, Greek and Israeli Diaspora Leaders Meet February in Jerusalem

Cypriot, Greek and Israeli diaspora leaders are set to meet trilaterally in Jerusalem, between February 24 and 26. Presidential Commissioner Photis Photiou ...
   

Baker Tilly South East Europe: New Substance Requirements in Offshore Financial Centers

Under the OECD’s and EU’s influence and in an attempt to get rid of their status as “bad” jurisdictions, long established island ...
   

EY: Technology and Innovation are Key to Drive Agile Growth for Insurance Companies

Global insurance sector growth is expected to remain weak, and companies must focus on technology and innovative initiatives that optimize costs, drive wider ...
   

DP World Limassol: New Investments Enhance Efficiency and Safety of Port Operations

DP World Limassol has acquired a range of new equipment as part of an ongoing upgrade of the Limassol port infrastructure. A new, high-tech mobile harbour ...
   

Emirates Introduces Entertainment Playlist Syncing Ahead of Travel

Emirates has introduced an innovative new function on its app to allow customers to create bespoke playlists ahead of their flight and sync it to their seats ...
   

The New Power Station Foundation Stone Laying Ceremony

The New Power Station of Power Energy Cyprus (P.E.C.) Ltd is now a fact and its construction is proceeding fast. The Power Plant aspires to become the first ...
   

Cyprus Ready to Contribute for Better Results in the EU -Arab States Summit

Foreign Minister Nikos Christodoulides expressed the readiness of the Republic of Cyprus to contribute to achieving substantial results during the EU summit ...
   

Trade Deficit Down by 12.8% in January – October 2018

Trade deficit declined 12.8% in the period January - October, according to data released Monday by the Statistical Service of Cyprus.   Trade deficit ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Gold_Issue_300x250px

IMH LTD