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Services sector lifts economic sentiment
May 27, 2022
Economic sentiment in Cyprus experienced a slight improvement in May, according to a business and consumer survey report by the University of Cyprus released on Thursday.
The Economic Sentiment Indicator (ESI-CypERC) rose by 1.1 points compared to the previous month, something which the report primarily attributes to more robust confidence in the services sector.
“The increase in the Services Confidence Indicator was driven by further improvements in the assessments of past performances (in terms of both business situation and demand) and upward revisions in demand expectations,” the report explained.