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News - Economic Update 2017

14/02/2017

Economic Update: Issue 2/2017

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 13 February 2017. 

Business conditions remained favourable, with the Bank's Business Conditions Index (BCI) continuing to signal above normal activity levels in January. Economic sentiment decreased during the month, though it remained high from a historical perspective.

In December, retail sales declined in annual terms. However, industrial production and tourism activity continued to expand.

Labour market conditions remained favourable, with the number of registered unemployed falling further during the month. 

Price pressures remained moderate, with the annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) standing at 1.0% in December.

Maltese residents' deposits continued to grow at a fast pace, while credit to residents rose by 2.5% in annual terms.

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

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