Not necessarily very positive, but certainly less negative compared to Spring 2022 edition, are the findings of the Limassol Chamber Business Barometer for Autumn 2022. What emerges in the form of a general conclusion is that, although the economic ramifications of the Russian-Ukrainian crisis are still a cause for intense concern, the shock from the advent of the crisis, with the Russian invasion around the end of February, which was particularly intense in the Spring , has now been mitigated, if nothing else in the form of adaptation to the new realities.
The complete findings of the Barometer have already been posted on the Chamber website and are accessible to all interested parties. Some very concise findings are summarized below:
- In the employment sector, over 56% intend to hire, compared to 54% in Spring (60% in Autumn 2021)
- In the area of investments, 60% are happy with their investments in the last 12 months (57% in Spring 2022, more than 61% in Autumn 2021). Over 61% will proceed with new investments in the next quarter, five points higher compared to Spring, but at the same levels as Fall 2021.
- In the area of total sales, those predicting increased sales decreased by three points between Spring and Fall 2022. In the same period, those predicting fewer sales decreased by more than eight points.
- With regard to confidence in the prospects of the Cyprus economy, only 7% refer to increased confidence, a percentage which is, however, almost double the corresponding one in the Spring. Accordingly, those with reduced confidence were down to 28% of the total, compared to 55% six months earlier.
