Coronavirus lockdown hits Cyprus economy hardest in May

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Coronavirus lockdown hits Cyprus economy...
 © FamagustaGazette 2020
The lockdown imposed in mid-March to prevent the spread of COVID-19 hit Cyprus economy the hardest in May, according to a survey conducted by the Economic Research Center (ERC) of the University of Cyprus reaching here on Thursday.

It said that the Cyprus Composite Leading Economic Index (CCLEI) declined in May to 95.5 points, which corresponds to a reduction of 11.8 percent on a year-on-year basis.

“The negative year-on-year growth rate of the CCLEI confirms that the domestic economy was faced with an unprecedented contraction attributed...


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Coronavirus lockdown hits Cyprus economy hardest in May


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