Cyprus: Industrial activity records largest contraction in six months in February
April 28, 2021
Industrial production declined 7.6% in annual terms in February, dropping at the sharpest rate in six months (January: -6.7% yoy). Looking at the details of the release, a more pronounced decline in electricity supply output were largely behind February’s downturn.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.9% in February, down from January's minus 7.9% reading.