Cyprus: Decline in industrial output softens in September
Industrial production slid 3.5% year-on-year in September, a weaker contraction than August’s 8.8% drop and marking the best result since February. Looking at the details of the release, September’s softer drop was chiefly driven by a milder decline in manufacturing, and mining and quarrying production. Meanwhile, electricity supply output bounced back solidly in September.
Lastly, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.7%, down from August’s minus 5.9% reading.