Cyprus: Industrial output drops at sharpest rate since November 2024 in June
Latest reading: Industrial output fell 0.9% year on year in calendar-adjusted terms in June, which contrasted May’s 0.4% increase. June’s figure marked the worst reading since November 2024. Looking at the details of the release, electricity, gas, steam and air conditioning supply fell at a steeper rate, while mining and quarrying production decelerated. That said, manufacturing output accelerated in June.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 2.0%, down from May’s 2.6%. On a seasonally adjusted monthly basis, industrial production fell at a softer pace of 0.1% in June (May: -1.8% mom s.a.).