Fiscal Balance in Cyprus
Cyprus - Fiscal BalanceA preliminary estimate revealed that the economy shifted into a lower gear in the second quarter, with growth softening to a near four-year low. That said, it remained solid and well above the Eurozone average, propelled by the construction, information and technology, and professional and technical activities sectors. On the expenditure side, healthy wage increases as of late and sustained job market tightening—which saw the unemployment rate dip to an over eight-year low in Q2—likely buoyed household spending, as reflected by strong retail sales data for April–May. On the downside, declining tourist arrivals in May and June, coupled with a wider trade deficit in Q2 from a year ago, indicates that the external sector likely dragged noticeably on growth.
Cyprus - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-5.1||-9.0||-1.3||0.3||1.8|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1.10||0.65 %||Sep 04|
|Stock Market||69.9||-0.44 %||Sep 04|
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September 6, 2019
Annual growth eased to 3.0% in the second quarter, according to detailed national accounts released on 6 September (Q1: +3.2% year-on-year).
September 5, 2019
Consumer prices rose 0.3% from the previous month in August, contrasting July’s 1.3% month-on-month decline.
August 29, 2019
Annual working day-adjusted industrial production was stagnant in June, following the 0.2% expansion logged in May.
August 14, 2019
Annual growth moderated to 3.0% in the second quarter, marking the slowest pace since Q3 2015 (Q1 2019: +3.2% year-on-year).
August 5, 2019
Consumer prices declined 1.3% from the previous month in July, contrasting June’s 0.1% month-on-month increase.