The Cyprus Composite Leading Economic Index (CCLEI) continued its upward trend, marking a 1.8% year-over-year increase in October 2024. This follows growth rates of 1.6% in September and 1.2% in August of the same year.
As detailed in a press release from the Economics Research Centre of the University of Cyprus, the CCLEI’s sustained positive trajectory is underpinned by contributions from all its components.
Notably, factors such as improvements in the Economic Sentiment Indicator (ESI) for both Cyprus and the euro area, along with a decline in Brent crude oil prices compared to October 2023, played a significant role in boosting the index.
Domestically, several key drivers further bolstered the CCLEI:
These factors collectively reinforced the index’s year-over-year growth in October, highlighting a broad-based economic expansion driven by multiple leading indicators.
Source: www.stockwatch.com.cy