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News - Economic Update 2016

09/12/2016

Economic Update: Issue 11/2016

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 7 December 2016.

Overall economic sentiment rose marginally in November, reflecting an improvement in sentiment in construction, services and industry. 

As regards economic activity, in September industrial production went up marginally on a year earlier. Activity in tourism and retail sales continued to increase through October.

Labour market conditions remained favourable, with the annual growth rate of the gainfully occupied population rising to 4.7% in May. Unemployment fell further in October. 

Price pressures remained moderate. In October, the annual rate of inflation based on the Harmonised Index of Consumer Prices and the Retail Price Index stood at 0.5% and 0.4%, respectively.

Meanwhile, Maltese residents' deposits expanded at a slower rate in October.

As regards fiscal developments, the deficit on the cash-based Consolidated Fund narrowed in the first ten months of the year, mainly due to an increase in tax revenue.

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

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