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Cyprus Industrial production April 2024

Cyprus: Industrial output growth slows in April

Industrial output grew 2.8% year on year in calendar-adjusted terms in April, which followed March’s 8.0% increase. The notable slowdown was largely driven by a deterioration in manufacturing output growth. In contrast, electricity, gas, steam and air conditioning supply output picked up pace.

Meanwhile, annual average industrial production growth rose to 2.6% in April (March: +2.3%), which marked an over one-year high. On a monthly basis, industrial production decreased 1.7% in seasonally adjusted terms in April, contrasting March’s 2.3% expansion and marking the worst result since March 2023.

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