Εconomic sentiment in Cyprus improved in August 2020, as the Economic Sentiment Indicator (ESI-CypERC) increased by 1.9 points compared with July 2020. However, consumer confidence weakened considerably, CNA reports.
According to a press release of the Economics research center of the University of Cyprus, the increase in the ESI-CypERC was driven by confidence improvements among firms in all sectors surveyed.
The rise in the Services Confidence Indicator resulted from firms’ less adverse assessments of their past performance and upward revisions in demand expectations.
The spike in the Retail Trade Confidence Indicator was due to improved views on the current stock levels and upward revisions in sales expectations.
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