Economic sentiment down in December

CYPRUS’ economic sentiment decreased in December, mainly due to the deterioration of the business and consumers’ climate. 

The business climate in Cyprus dropped by 1.7 points in December, compared to November 2011, according to the Economic Research Centre (ERC) of the University of Cyprus, mainly due to the deterioration of the climate in manufacturing and the negative prospects of employment in that sector.

It was also caused by the deterioration of the climate among consumers due to their low expectations with regard to their financial situation and unemployment prospects for the next 12 months.

Many businesses have also negatively evaluated their situation and expect sales to decrease in the next three months.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.