19/04/2017

Economic Update: Issue 4/2017

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 12 April 2017.

Business conditions remained favourable, with the Bank's Business Conditions Index (BCI) continuing to signal above normal activity levels in March. Economic sentiment decreased marginally during the month, as weaker sentiment in the retail and services sectors, and among consumers, offset improved sentiment in industry and construction.

In February, the annual rate of change of retail sales turned negative. However, industrial production and tourism activity expanded further.

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) eased to 1.2%.

In February, Maltese residents' deposits rose by 11.7% when compared with the same month of 2016, while credit to residents increased by 2.4%.

As regards fiscal developments, the cash-based Consolidated Fund showed a surplus in 2016 and, cumulatively, in the first two months of 2017.

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

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