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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CyprusCyprus Consumer Confidence climbed to -21.2 in January 2023
FMPMonthlyReleased January 2023
Cyprus Consumer Confidence climbed to -21.2 in January 2023, up 6.8 from December's -28 reading. The print exceeded the -27 consensus by 5.8. Consumer Confidence has now risen for 4 consecutive months. Over the past 3 months, Consumer Confidence averaged -29.15, vs -32.13 in the prior 3-month window. Consumer Confidence is now the highest in 10 months.
Latest Release
-21.2
Actual
-27
Consensus
-28
Previous
Median Absolute Error
±3.05
across last 12 releases
Last Call
Jan 2023
Predicted: -24.28
Actual: -21.2
Error: -3.07
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
Consumer Confidence (Cyprus) was reported at -21.20 in January 2023. This beat the market consensus of -27.00 by 5.80. The reading rose from the previous value of -28.00.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged -26.50, up from the prior three at -32.13.
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 3.05.
Auto-generated from current model state · Refreshes on each release · Last update January 2023.
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Consumer Confidence - CY
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About Consumer Confidence — Cyprus
DEFINITION
Index The Consumer Confidence Index is a widely recognized financial indicator that measures the level of optimism or pessimism among consumers regarding the state of the economy. It is based on surveys and data collected from a representative sample of households, and is used by economists and investors to gauge consumer spending patterns and overall economic health. A higher index value indicates a positive outlook, while a lower value suggests a more negative sentiment. This index is a valuable tool for businesses and policymakers in making informed decisions and predicting future economic trends.
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 -21.2, consensus -27. Prior reading (Dec 2022): -28. Before that (Nov 2022): -30.3.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher 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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Economic Calendar - CY Events
| Wednesday, July 29, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 10:00 | CY | Wage Growth YoY | 4.4 | 4 | 4.00 | Low | |
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 09:00 | CY | Unemployment Rate | 3.1 | 4.4 | 4.40 | Low | |
| 09:00 | CY | Industrial Production YoY | 1.4 | 1.7 | -1.10 | Low | |