Cyprus Industrial production September 2021

Cyprus

Cyprus: Industrial activity drops at sharpest rate since February in September

November 29, 2021

Industrial production decreased 1.2% year-on-year in September (August: +8.9% yoy). The outturn marked the worst reading since February and was largely attributed to weaker manufacturing output. Meanwhile, electricity output tumbled over the prior month.

Meanwhile, annual average industrial production growth rose to 5.5% in September (August: +5.4%), signaling an improving trend in the industrial sector.

FocusEconomics Consensus Forecast participants see fixed investment increasing 4.1% in 2022, which is unchanged from last month’s estimate. For 2023 our panel sees fixed investment growing 3.6%.


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Cyprus Industrial production Chart


Cyprus Industry September 2021

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: Statistics Cyprus and FocusEconomics calculations.


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