Business conditions have remained favourable, according to the Central Bank of Malta’s latest Economic Update, with the bank’s Business Conditions Index (BCI) continuing to signal above normal activity levels in March.

Economic sentiment decreased marginally during the month, as weaker sentiment in the retail and services sectors, and among consumers, offset improved sentiment in industry and construction.

In February, the annual rate of change of retail sales turned negative. However, industrial production and tourism activity expanded further.

Labour market conditions re­mained favourable, with the number of registered unemployed falling further during the month.

The annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) eased to 1.2 per cent.

In February, Maltese residents’ deposits rose by 11.7 per cent when compared with the same month of 2016, while credit to residents increased by 2.4 per cent.

As regards fiscal developments, the cash-based Consolidated Fund showed a surplus in 2016 and, cumulatively, in the first two months of 2017.

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

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