Annual business confidence index for the service sector Cyprus 2008-2022

*Estimate.

Note: Forecasts were estimated by Statista using cyclical forecasting algorithms, based on data of the Business Confidence Survey conducted monthly by the European Directorate General for Economic and Financial Affairs (EC DGFIN). During the survey, businesses are asked to rate various aspects of their sector to understand how positive or negative they feel about the current, and near-future situation. The answers from these questions are ranked numerically and are combined into a weighted, averaged “confidence” value for each sector and each country. The Business Consumer Surveys data used here is the non-seasonally adjusted version; from these datasets, forecasts of the confidence in the sector have been derived. Positive confidence trends indicate growth, whereas negative confidence indicates decline.