Cyprus Economic Outlook
January 29, 2019Available data for the fourth quarter of last year paints a mixed picture, but overall suggests the economy should have registered another quarter of healthy expansion. This followed a firm third quarter, driven by buoyant household spending and upbeat construction investment. On the upside, annual growth in tourist arrivals was stronger in Q4 than in the previous quarter, while business confidence was especially buoyant, which bodes well for investment activity in the final quarter. Less positively, the unemployment rate increased in November for the second consecutive month, and consumer confidence remained stuck in negative territory throughout the quarter, which suggests cooling household spending.
Cyprus Economic GrowthGrowth is set to slow this year, but it should nevertheless remain solid thanks to sturdier fixed investment. Private consumption will likely continue to expand, although at a softer pace due to higher inflation and slowing job creation. A hard Brexit, burdensome private and public debt, and a high—albeit declining—stock of non-performing loans cloud the outlook. Met the why particular analysts see growth at 3.2% in 2019, which is unchanged from last month’s forecast, and 2.6% in 2020.
Cyprus Economy Data
5 years of Cyprus economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.14||0.65 %||Jan 30|
|Stock Market||61.9||-0.44 %||Jan 30|
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