12/05/2017

Economic Update: Issue 5/2017

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 9 May 2017.  

Business conditions remained buoyant, with the Bank's Business Conditions Index (BCI) continuing to signal above normal activity levels in April. Economic sentiment increased marginally during the month, driven by improved confidence in the services sector.

In March, the annual rate of change of retail sales turned positive, while industrial production and tourism activity expanded further. Labour market conditions remained favourable, with further continued growth in employment and a further decrease in unemployment.

The annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) was stable at 1.2% in March.

Maltese residents' deposits rose by 11.8% when compared with the same month of 2016, while credit to residents increased by 2.7%.

As regards fiscal developments, the cash-based Consolidated Fund showed a small deficit in the first three months of 2017.

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

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