Cyprus: Decline in industrial output softens in November
Industrial output slid 4.1% compared to the same month a year earlier in November 2020, falling at a weaker rate than October’s 5.2% decrease. Looking at the details of the release, November’s softer drop was largely attributed to a milder contraction in manufacturing output. Moreover, water supply output rebounded.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 7.6% in November, down from October’s minus 7.3%.