ESG Strategy and Digital Transformation
Consumption and business activity continue to improve
Economic Sentiment Indicator: Confidence returning
109.9
80.0
80.8
105.6
Retail sales stabilise in 4Q2021
Retail trade volume % change -3m average
52.4
10.6
6.5
6.8
-26.8
-4.0
-12.3
-25.1
-49.8
Feb-20
Jan-16 Sep-16 May-17 Jan-18 Sep-18 May-19 Jan-20 Sep-20 May-21 Jan-22
May-20 Aug-20
Retail trade ex motor
Non-food ex autom fuel
Nov-20 Feb-21
May-21
Aug-21
Nov-21
Retail trade ex autom fuel
Motor vehicle registrations
Card spending continues to increase in line with economic activity
Volume of building permits
(€ mn)
1,100
975 1,002
1,000
842
900
800
700
600
500
1,044
#ths
878
400
842
733
300
200
743
706
100
642
0
Jan
Feb
Mar Apr May Jun July Aug Sept Oct Nov
400
Jan Feb Mar Apr May Jun
Jul Aug Sep Oct Nov Dec
2019
2020
2021
2019
-
2020
2021
Source: Cyprus Statistical Service, S&P Ratings
Dec
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