14/11/2017

Economic Update: Issue 11/2017

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 10 November 2017.

The Bank's Business Conditions Index (BCI) signalled a slight improvement in activity levels during October. Economic sentiment rose marginally, as improved confidence in the retail and construction sectors, and among consumers was offset by weaker confidence in services and industry sectors.

In September, both retail sales and tourism activity accelerated in annual terms. Industrial production also rose on a year earlier. Labour market conditions remained favourable. Employment continued to grow, while unemployment fell further.

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

Maltese residents' deposits rose by 10.1% when compared with a year earlier, while growth in credit to residents stood at 2.6%.

As regards fiscal developments, the cash-based Consolidated Fund showed a surplus in the first nine months of 2017.

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

 

 

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