May Business Climate Indicator down 1.3pts m/m

The World Economic Indicator (WWK), which provides advanced information on future trends in the economy, decreased in May by 1.3 points compared to April, the Bureau of Investment and Economic Cycles (BIEC) said.

BIEC states that this is the second consecutive month of a significant decline in the value of the index.

According to BIEC, the economy reached its last local activity peak in June last year.

Out of the eight components of the index, five deteriorated in May, two remained at the same level as a month ago and one improved. 

(PAP)