Cyprus: Economic sentiment hits highest reading since January in July
Economic sentiment came in at 104.1 in July, up from June’s 103.7. July’s result marked the strongest sentiment since January. Consequently, 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 construction and retail sectors. Less positively, sentiment in the industrial and services sectors deteriorated in the surveyed month. Finally, consumer confidence softened in July.
Considering indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index fell in July.