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Cyprus' economic sentiment indicator continues to improve

30 January, 2014

Economic sentiment indicator in Cyprus improved for the ninth consecutive month, according to data released by the Commission’s Directorate General ECFIN.

The Commission’s paper notes the fact that among the countries under economic adjustment program, in Cyprus the indicator reached its highest level since July 2011.

In Cyprus, the indicator rose from 90.3 points in December 2013 to 91.3 in January 2014. Since April 2013 when it reached its lowest level after the Eurogroup decisions imposed on Cyprus, the indicator improves constantly and reaches this month its highest level since July 2011.

As regards the services sector, it rose by 7.7 points in one month, while improvement was achieved in other indicators apart from the consumer confidence which recorded a decrease.

In particular, in Cyprus there was an improvement of the industry (up by 1.5 points), retail trade (+1.4), construction (+3,1), services (+7,7), while consumer confidence index dropped by 2.8 points.