15/06/2017

Economic Update: Issue 6/2017

The Central Bank of Malta has just published its latest Economic Update, based on information available up to 13 June 2017.

The Bank's Business Conditions Index (BCI) signalled average activity levels in May. Economic sentiment slowed down marginally due to weaker sentiment in services, but remained high from a historical perspective.

In April, retail sales rose in annual terms. Industrial production and tourism activity also expanded. Labour market conditions remained favourable. Employment growth continued while unemployment fell further.

Price pressures remained moderate, with the annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) easing to 1.1% in April.

Maltese residents' deposits rose by 11.8% when compared with the same month of 2016, while credit to residents increased by 2.6%.

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

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

 

 

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