CCLEI trend slows in March, April

The annual growth rate of a leading indicator in Cyprus used to predict the future direction of economic movements, declined for the second consecutive month in April amid international pressures and turbulence, the University of Cyprus said in its monthly report. The Cyprus Composite Leading Economic Index (CCLEI), which is constructed and estimated by the university’s Economics Research Centre (CypERC), deteriorated further in April, recording a year-on-year decrease of 1.72%, according to recently revised data. This follows the marginal annual decline seen in March, after the year-on-year increase of 0.82% recorded in February. The further deterioration of the CCLEI in April mainly reflects adverse developments in components of the Index, in an environment of increased geopolitical and external economic pressures. In more detail, the economic climate in the euro area and, especially, in Cyprus deteriorated in April compared to the same months last year, leading to a year-on-year decrease in the weighted Economic Sentiment Indicator (ESI). At the same time, the price of Brent crude oil recorded a larger year-on-year increase in April, following the annual increase that had already occurred in March. Tourist arrivals also contributed negatively, affected by flight cancellations and possible fuel shortages, recording a significant decrease from April 2025. In contrast, the temperature-adjusted volume of electricity production, property sales contracts, credit card transactions, and the retail sales volume index contributed positively to the year-on-year growth rate of the CCLEI. Overall, the year-on-year decrease in the CCLEI growth rate in April indicates a weakening of the growth dynamics of the Cypriot economy in the short term, in an environment of heightened geopolitical tensions and intensifying external economic pressures. The post CCLEI trend slows in March, April appeared first on Financial Mirror.