Cyprus: Economic sentiment rises in May
Economic sentiment came in at 103.8 in May, up from April’s 103.0. As a result, the index remained above the long-term average of 100, pointing to a positive near-term outlook for the economy.
The headline print reflected stronger sentiment in the industrial and services sectors. Moreover, consumer confidence rose in May. That said, confidence in the construction and retail sectors waned in the surveyed month.
Considering indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index decreased in May.