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The economic climate in Cyprus improved


The economic climate in Cyprus improved in April, with the Economic Condition Index increasing by 4 percentage points relative to the previous month, the University of Cyprus’ Economic Research Centre announced on Tuesday. According to a consumer survey carried out by RAI Consultants for the ERC, the increase was due to an improvement in the business climate in all sectors covered, as well as a surge in consumer confidence. In services, the climate improvement was the result of favourable assessments of the economic situation and business operating cycles over the last quarter. In the industries of retail sales, construction and processing, the climate also shows some improvement. In services, where the boost in confidence related to recent developments, relative improvement in these sectors related mainly to increased optimism in sales, employment and production over the next three months.

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