The Central Bank of Malta’s Business Conditions Index shows that in June, annual growth in business activity rose slightly, thereby remaining moderately above its historical average.
The Bank’s Economic Policy Uncertainty Index, an indicator that monitors economic policy uncertainty by synthesising information gleaned from Maltese news portals, dropped further from its May level and stood below its historical average, the bank said Wednesday.
In June, both the European Commission’s Economic Sentiment Indicator and the Employment Expectations Indicator rose on a month earlier and stood above their long-term average.
In May, industrial production rose, while retail trade contracted marginally year-on-year. In April, services production contracted on a year earlier for the third consecutive time.
In May, at 2.7%, the unemployment rate remained low from a historical perspective. Permits for residential buildings rose when compared to their year-ago level. In June, the number of residential promise-of-sale agreements and final deeds of sale increased on a year earlier.
In May, the annual rate of change in Maltese residents’ deposits edged up compared with April, while growth in credit granted by monetary and financial institutions in Malta decreased marginally.
In June, the annual inflation rate based on the Harmonised Index of Consumer Prices (HICP) fell to 2.5% from 2.7% a month earlier, while HICP inflation excluding food and energy stood at 2.4%.
Both indices stood above the euro area average. According to the Retail Price Index (RPI), inflation remained unchanged at 2.4% in June. In May, the Consolidated Fund registered a surplus in contrast to a deficit a year earlier, due to a rise in government revenue coupled by a decline in government expenditure.
