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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CyprusCyprus Business Confidence climbed to 102.2 in December 2022
FMPMonthlyReleased January 2023
Cyprus Business Confidence climbed to 102.2 in December 2022, released January 2023, up 1.9 from November's 100.3 reading. The print exceeded the 93.2 consensus by 9. Year-over-year, the indicator is down 5.3. Over the past 3 months, Business Confidence averaged 100.65, vs 99.13 in the prior 3-month window. Business Confidence is now the highest in 9 months.
Latest Release
102.2
Actual
93.2
Consensus
100.3
Previous
Median Absolute Error
±3.37
across last 12 releases
Last Call
Jan 2023
Predicted: 93.7
Actual: 102.2
Error: -8.5
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Business Confidence (Cyprus) was reported at 103.80 in January 2023. The reading rose from the previous value of 102.40.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 102.07, up from the prior three at 99.80.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch). Over the last 12 releases, the Sigmacast model's median absolute error is 3.37.
Auto-generated from current model state · Refreshes on each release · Last update January 2023.
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Business Confidence - CY
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About Business Confidence — Cyprus
DEFINITION
Business Confidence is a financial indicator that measures the level of optimism or pessimism among business owners and managers about the current and future state of the economy. It is often used as a gauge of overall economic health and can impact investment decisions, hiring practices, and consumer spending. A high level of business confidence indicates a positive outlook and potential for growth, while a low level may signal caution and potential economic downturn. This indicator is closely monitored by economists, policymakers, and investors to assess the overall sentiment and potential direction of the business sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2023): actual 103.8. Prior reading (Dec 2022): 102.2. Before that (Nov 2022): 100.2.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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