Cliff on the ocean in Cyprus

Cyprus Industrial production September 2020

Cyprus: Industrial activity falls less steeply in July

Industrial production declined 5.4% year-on-year in July, a softer fall than June’s 9.0% drop. Looking at the details of the release, July’s weaker fall was largely driven by less severe contractions in manufacturing production and electricity supply output. That said, mining and quarrying production swung to contraction in July.

Meanwhile, the trend pointed down further, with the annual average variation of industrial production coming in at minus 4.8 in July, down from June’s minus 4.0% reading.

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