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Annual growth in business activity returns to long-term average

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b03475a6-eda5-4a70-8b01-cc2e710c6502.jpgThe Central Bank’s Business Conditions Index for June indicates that annual growth in business activity has returned to its long-term average estimated since January 2000.

The European Commission’s Confidence Survey shows that economic sentiment in Malta edged down in June when compared with a month earlier, but still remained above its long-term average, which is estimated since November 2002.

When compared with May, sentiment deteriorated strongly in the retail sector, and to a smaller extent among consumers and in the construction sector.

These developments were partly offset by improved sentiment in industry and the services sector.

Additional survey information shows that compared to May, price expectations eased across all sectors, with the largest decline recorded in industry. However, they remained elevated from a historical perspective.

The European Commission’s Uncertainty Indicator for Malta decreased when compared with May, signalling lower uncertainty.

This was driven by developments in services and industry, as in other sectors uncertainty increased.

In May, industrial production contracted in annual terms, though at a smaller rate compared with April.

Meanwhile, the volume of retail trade rose at a slower pace than in the previous month. The unemployment rate was unchanged from a month earlier and below last year’s rate.

The annual inflation rate based on the Harmonised Index of Consumer Prices stood at 6.1% in June, up from 5.8% in the previous month. Inflation based on the Retail Price Index also rose, reaching 6.2% in June from 6% a month earlier.

 

 

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ARTICLE WRITTEN BY TIMES MALTA

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