Cyprus economy: leading indicator’s decline eases in July

Economy cyprusoilpropertiesTop Newsuniversity of cyprus Cyprus economy: leading indicator’s decline eases in July Petroleum Sales Fall 8% In June, Stocks Down Sharply Relevant News Cyprus economy: leading indicator’s decline eases in July 10 August 2026 ECDC flags rare risk of mosquito viruses via transfusions 10 August 2026 Christodoulides to press for progress on confidence-building measures at Erhurman meeting 10 August 2026 newsroom 10 August 2026 FacebookXWhatsAppEmailPrintViber Cyprus’s Composite Leading Economic Indicator (CLI) recorded a milder annual decline in July 2026, suggesting that adverse trends in the economy are easing, though short-term challenges have not been eliminated. According to revised data from the Economics Research Centre (ERC) of the University of Cyprus, the index posted an annual decline of 0.43% in July, compared with a 0.69% fall in June and a 1.34% fall in May 2026. The decline has eased gradually, showing that the CLI’s fall is becoming more contained, in an environment of heightened external and geopolitical pressures. Factors that weighed on the index The CLI’s movement was shaped by opposing changes in its individual components. The weighted Economic Sentiment Index worsened in July 2026 compared with the same month in 2025, a development that reflects a decline in economic sentiment across all sectors of the Cyprus economy. The annual rise in the price of Brent crude oil also had an adverse effect, while tourist arrivals remained lower than in July of the previous year. Property, retail and electricity limited the decline Favourable performance in key domestic components of the index worked to offset this: property sales, retail trade and electricity production made a positive contribution, limiting the negative effect of the other factors. Property sale deeds, transactions using Cyprus credit cards, the retail sales volume index and the temperature-adjusted electricity production volume also had a positive effect. According to the ERC, the milder annual decline in the CLI shows a containment of negative trends, without negating the pressures the Cyprus economy faces in the short term. What the CLI is The Composite Leading Economic Indicator is produced and estimated by the Economics Research Centre of the University of Cyprus. It is designed to provide early warning signals for turning points in economic cycles, meaning possible shifts in Cyprus’s economic activity. It is made up of variables whose changes tend to precede changes in overall economic activity, and these are assessed on a regular basis. The CLI’s variables include: the price of Brent crude oil in euros the Economic Sentiment Indicator in Cyprus and the eurozone total property sale deeds tourist arrivals the value of transactions using Cyprus credit cards the retail sales volume index the temperature-adjusted electricity production index The data used The CLI estimate for July was based on available weekly data for the Brent price and electricity production volume. Monthly data for the Economic Sentiment Indicator in Cyprus and the eurozone, as well as for property sale deeds, was also used. Preliminary data for tourist arrivals and retail trade was incorporated into the estimate. The index was estimated using the 2009 econometric model of Aruoba, Diebold and Scotti, along with the related methodology for adjusting for the COVID-19 pandemic. Subscribe to our Newsletter Latest News ECDC flags rare risk of mosquito viruses via transfusions Christodoulides to press for progress on confidence-building measures at Erhurman meeting Only Nicolas actually met Makarios! Cyprus records 723 theft and burglary cases in first half of 2026 Police target scooter riders: 526 drivers cited in three days Paphos launches new marine pollution response service SHSO on 4-year-old meningitis case: ‘Police and internal investigations under way’ Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.