The Composite Leading Economic Index (CLI) of Cyprus recorded an annual growth of 2.3% in December 2024, following increases of 2.2% in November and 2.0% in October 2024, according to the Economics Research Center (ERC) of the University of Cyprus.

In a press release, the ERC highlighted that the majority of leading economic variables contributed positively to the annual growth rate of the CLI. These variables include:

• The Economic Sentiment Indicator (ESI) in Cyprus

• Tourist arrivals

• Credit card transactions

• Retail sales volume

• The adjusted volume of electricity production

However, the growth of the CLI was moderated by several factors:

• A deterioration in the Economic Sentiment Indicator (ESI) in the Eurozone

• An increase in Brent crude oil prices in December 2024 compared to December 2023

• A decline in real estate sales on an annual basis

The CLI remains a key indicator for tracking the future performance of the Cypriot economy, reflecting both domestic and international economic trends.