In February 2021, economic sentiment in Cyprus deteriorated marginally as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.1 points compared with January 2021. The decrease in the ESI-CypERC was mainly driven by weaker business confidence in services, CNA reports.
According to the Business and Consumer Surveys of the University of Cyprus Economics Research Centre, the drop in the Services Confidence Indicator resulted from firms’ less favourable views on their past business situation and past demand, despite improved demand expectations.
The Retail Trade Confidence Indicator fell marginally due to downward revisions in sales expectations, despite more favourable views on recent sales.
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