The return of the Cyprus Composite Leading Economic Index (CCLEI) to a marginally positive area in August suggests a gradual improvement in the short-term economic outlook, the Economics Research Centre (CypERC) of the University of Cyprus has said.
According to CypERC, the CCLEI recorded a year-on-year increase of 0.02% in August 2026, following year-on-year declines in previous months.
Overall, the Centre said the marginally positive growth rate points to a gradual improvement in the short-term economic outlook, although pressures from the international economic and geopolitical environment persist.
It added that the positive performance of key domestic components continues to offset external pressures and support economic activity.
More specifically, property sales contracts, credit card transactions by Cypriots, the retail sales volume index and the temperature-adjusted volume of electricity production contributed positively to the CCLEI’s year-on-year growth rate.
By contrast, Brent crude oil prices remained significantly higher than in August last year, while tourist arrivals remained lower on a year-on-year basis.
At the same time, the weighted Economic Sentiment Indicator (ESI) deteriorated year-on-year, CypERC said.
These developments limited a further increase in the CCLEI’s growth rate, it added.
(Source: CNA)
