15/09/2017

Economic Update: Issue 9/2017

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 14 September 2017.

In August, the Bank's Business Conditions Index (BCI) signalled a slight improvement in activity levels over the previous month. Economic sentiment also rose during the month, as confidence improved in all sectors.

In July, retail sales grew further on a year earlier, while industrial production fell. In contrast, tourism activity continued to grow at a fast pace.

Labour market conditions remained favourable, as the number of registered unemployed declined further in annual terms.

Price pressures remained moderate, with the annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) at 1.2% in July.

Maltese residents' deposits rose by 13.4% in July, while annual growth in credit to residents accelerated to 2.0%. As regards fiscal developments, the deficit on the cash-based Consolidated Fund narrowed in the first seven months of 2017.

The Economic Update is available on the website of the Central Bank of Malta.

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