Economic climate declines due to weaker expectations in services and industry

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The economic sentiment in Cyprus declined in December due to weaker business confidence in services and industry. The Economic Sentiment Indicator compiled by the University of Cyprus’ Economics Research Centre (ERC) dropped by 1.8 points to 109.2 points in December compared with 111.0 points the previous month. “The decrease resulted from weaker business confidence among firms in services and industry,” the ERC said.  The deterioration in the Services Confidence Indicator was driven by firms’ less favourable views on their past performance (business situation …

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