CYPRUS: Economic sentiment unchanged in June

The monthly Economic Sentiment Indicator (ESI) remained unchanged at 104.2 points in June, due to a marginal drop in consumer confidence and an equal improvement in business confidence in the retail, construction and manufacturing sectors.

The Economics Research Centre of the University of Cyprus said that climate change in retail was affected by a lesser-negative sentiment in sales in the second quarter and projections for future sales.
The construction sector benefited from a “lesser pessimistic” view of jobs in the next quarter, while the improvement in manufacturing resulted from a “lesser negative” climate due to current orders and increase in productivity.
The services sector remained basically unchanged from May.
The marginal drop in consumer confidence arose from a negative view of consumption levels and household incomes in general and over the next 12-month period.