16/03/2017

Economic Update: Issue 3/2017

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

Business conditions remained favourable, with the Bank's Business Conditions Index (BCI) continuing to signal above normal activity levels in February. Economic sentiment increased during the month, supported by improved sentiment among firms operating in the retail and services sector as well as among consumers.

In January, the annual rate of change of retail sales turned positive again, while industrial production and tourism activity continued to expand.

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

The annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) rose to 1.4% in January.

Maltese residents' deposits increased by 10.1% when compared with the same month of 2016, while the annual rate of growth of credit to residents eased to 1.3%.

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

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