The economic climate deteriorated in January 2022, with the Economic Sentiment Index (ESI) falling by 2.4 points compared to December 2021. The decline in the IIP was mainly due to a weakening of business sentiment in services and, to a lesser extent, a decline in retail trade sentiment.
According to a release from the Centre for Economic Research of the University of Cyprus, the weakening of business sentiment in services was the result of less favourable assessments of turnover in the last quarter and more pessimistic estimates of turnover in the next quarter.
(CNA)
CNA
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