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Cyprus Industrial production July 2022

Cyprus: Industrial activity falls at sharpest pace since February 2021 in July

Industrial output decreased 0.5% year on year in July (June: +1.7% yoy). The outturn marked the lowest reading since February 2021. July’s weakening was partly driven by electricity production swinging into a steep contraction. Additionally, mining output contracted at a sharper pace. Lastly, growth in manufacturing production slowed.

Consequently, the trend pointed down, with the annual average growth of industrial production coming in at 3.4% in July, down from June’s 4.0% reading.

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