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Cyprus Industrial production June 2020

Cyprus: Industrial activity falls less steeply in June

Industrial production declined 10.3% year-on-year in June, falling at a softer pace than May’s 16.5% drop. Looking at the details of the release, June’s weaker fall was driven by a significant rebound in mining and quarrying output and a less severe contraction in manufacturing production.

Meanwhile, the trend pointed down further, with the annual average variation of industrial production coming in at minus 4.0% in June, down from May’s minus 3.1% reading.

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