02 February 2025, 17:06

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Annual increase of 2.3% for December Spod, according to CCO CC

Annual increase of 2.3% for December Spod, according to CCO CC
Annual increase of 2.3% for December Spod, according to CCO CC

Cyprus's complex leader (SPO) recorded an annual increase of 2.3% in December 2024, after annual increases of 2.2% and 2.0% recorded in November and October 2024, respectively, reports the Center for Economic Research (JOC) of the University of Cyprus.

According to a press release, the majority of its leading financial variables, namely the Economic Climate Index in Cyprus, the arrivals of tourists, credit card transactions, the volume of retail sales and the custom volume of electricity production contributed positively to its growth rate.

In contrast, the deterioration of the euro area in the euro area, the rise in prices of Brent crude oil in December 2024 compared to December 2023, and the annual decrease in property sales restricted the further rise of Spod in December 2024 .

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