The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 1.8% in October 2024, following growth rates of 1.6% in September and 1.2% in August 2024.

According to the Economics Research Centre of the University of Cyprus, the CCLEI’s upward trajectory in October 2024 was supported by positive contributions from all its components.

Specifically, the rise in the Economic Sentiment Indicator (ESI) for both Cyprus and the euro area, coupled with a drop in Brent crude oil prices compared to October 2023, strengthened the index's performance.

Domestically, the CCLEI benefited from increases in property sales contracts, a rise in tourist arrivals, higher credit card transactions, expanded retail sales volume, and increased electricity production (adjusted for temperature).