The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 2.3% in December 2024, following the year-over-year increases of 2.2% and 2.0% recorded in November and October 2024, respectively.
The CCLEI maintained its upward trajectory in December 2024, with the majority of its leading economic variables (namely, the Cyprus ESI, tourist arrivals, credit card transactions, retail sales volume, and the adjusted electricity production volume) contributing positively to its year-over-year growth rate, according to the Economics Research Centre (CypERC) of the University of Cyprus.
In contrast, the worsening of the euro area ESI, the increase in Brent crude oil prices in December 2024 compared to December 2023, and the year-over-year decline in property sales contracts restrained the further rise in the CCLEI in December 2024.
(Source: CNA)
