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News - Economic Update 2018

14/11/2018

Economic Update: Issue 11/2018

The Central Bank of Malta has just published its latest Economic Update based on information available up to 9 November 2018.

In October, the Bank's Business Conditions Index (BCI) eased slightly over the previous month, continuing to suggest above-average conditions. Economic sentiment eased reflecting weaker confidence in the retail, services, industrial and construction sectors. In contrast, consumer confidence stood unchanged.

In September, tourism activity rose at a faster pace in annual terms. Meanwhile, both industrial production and retail trade fell on a year earlier.

Conditions in the labour market remained favourable, with the number of registered unemployed declining further on year ago levels.

The annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) rose to 2.5% in September. The rate based on the Retail Price Index (RPI), which is the more relevant measure of consumer price inflation for domestic households, edged up to 1.6%.

The annual rate of change of Maltese residents' deposits accelerated to 4.5%, while growth in credit to residents remained unchanged at 2.6%. 

Meanwhile, the cash-based Consolidated Fund surplus narrowed compared with a year earlier. 

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

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