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Cyprus Industrial production May 2023

Cyprus: Industrial output grows at fastest pace since May 2022 in May

Industrial output rose 3.0% in year-on-year terms in May, which was above April’s 1.5% increase. May’s figure marked the best reading since May 2022. The upturn was largely driven by upturns in manufacturing and water supply production.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 0.1% in May, contrasting April’s plus 0.1% reading.

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