Business conditions remained buoyant, with the Bank’s Business Conditions Index (BCI) continuing to signal above normal activity levels in April, the Central Bank of Malta reported today in its latest Economic Update, based on information available up to May 9.

Economic sentiment increased marginally during the month, driven by improved confidence in the services sector.

In March, the annual rate of change of retail sales turned positive, while industrial production and tourism activity expanded further. Labour market conditions remained favourable, with further continued growth in employment and a further decrease in unemployment.

The annual rate of inflation based on the Harmonised Index of Consumer Prices (HICP) was stable at 1.2 per cent in March.

Maltese residents’ deposits rose by 11.8 per cent when compared with the same month of 2016, while credit to residents increased by 2.7 per cent.

As regards fiscal developments, the cash-based Consolidated Fund showed a small deficit in the first three months of 2017.

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

 

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