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News - Economic Update 2018

14/06/2018

Economic Update: Issue 6/2018

The Central Bank of Malta has just published its latest Economic Update based on information available up to 11 June 2018.

In May, the Bank's Business Conditions Index (BCI) eased slightly on a month earlier, and continued to suggest above-average conditions. Economic sentiment rose across all sectors, except among consumers, although consumer sentiment remains high from a historical perspective.

In April, tourism activity grew at a strong pace on a year earlier. In contrast, industrial production and retail trade contracted.

Labour market conditions remained favourable. The number of registered unemployed declined further, with the unemployment rate falling to a new historical low.

The annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) edged up slightly to 1.4% in April.

The annual rate of change of Maltese residents' deposits decelerated to 4.6%, while annual growth in credit to residents stood at 1.4%.

Meanwhile, the cash-based Consolidated Fund recorded a deficit compared with a surplus in April 2017.

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

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