CYPRUS: Economic sentiment down in September

 
The monthly survey conducted by the Economics Research Centre of the University of Cyprus, found that the Services Confidence Indicator declined due to firms’ less optimistic assessments of past business situation and downward revisions in their turnover expectations over the next three months.
In other results, the Retail Trade Confidence Indicator decreased as a result of more negative responses regarding firms’ past sales and less optimistic sales expectations over the next three months.
The decline in the Industry Confidence Indicator is driven by the downward revision of firms’ assessments of production plans over the next three months, as well as by the deterioration of firms’ views of the level of their current order books and stock of finished products.
The Construction Confidence Indicator improved due to less pessimistic assessments of the level of current order books and upward revisions in firms’ employment expectations.
The Consumer Confidence Indicator increased marginally as a result of a less negative attitude towards savings and consumers’ slightly more optimistic views regarding the future financial situation in Cyprus.