Economic sentiment continues to climb in Cyprus

The monthly economic sentiment indicator continued to rise last month to 101.3 points, but at a slower pace than the 2.3-point increase seen in May.
The ESI for June rose for the 14th consecutive month and by 0.6 points month-on-month, due mainly to a rise in consumer confidence and a marginal improvement in the construction sector, said the Economic Research Centre of the University of Cyprus that conducts the EU-linked survey in collaboration with RAI Consultants.
The survey found that consumer confidence was boosted by “the general economic situation and the rate of unemployment, and a lesser negative attitude towards savings.”
The sentiment in the construction sector improved marginally due to a “less pessimistic review and projects underway the past three months.”
The ESI rose further in May, for the 13th consecutive month, this time getting a boost from the services sector and the enhanced confidence of households. Improvement in the economic climate was also recorded in the EU28 and the Eurozone.
The lowest point of the index was recorded in April 2013, immediately after the decision of the Eurogroup for the country's adjustment programme and has seen a constant rises gradually returning to its historical average, reaching levels similar to 2010.