Cliff on the ocean in Cyprus

Cyprus Industrial production August 2020

Cyprus: Industrial activity drops at faster pace in August

Industrial output dropped 8.8% in annual terms in August, a steeper contraction from July’s 5.4% decline. August’s stronger drop was broad-based with manufacturing, electricity and water supply as well as mining and quarrying output all recording more severe contractions than in July.

Similarly, the trend deteriorated further, with the annual average variation of industrial production coming in at minus 5.9 in August, down from July’s minus 4.8% reading.

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