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Cyprus Industrial production March 2024

Cyprus: Industrial output grows at fastest pace since May 2021 in March

Industrial production grew 8.5% year on year in calendar-adjusted terms in March (February: +0.7% c.a. yoy). The print marked the best reading since May 2021. March’s rise was partly driven by an improvement in manufacturing output growth. In addition, electricity, gas, steam and air conditioning supply production rebounded.

Meanwhile, annual average industrial production growth rose to 2.3% in March (February: +1.3%). This signals an improving trend in the industrial sector. On a seasonally adjusted monthly basis, industrial output rose 2.9% in March (February: 0.0% mom), the best result since July 2020.

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