Cyprus Industrial production April 2021

Cyprus

Cyprus: Industrial output grows markedly in April

June 29, 2021

Industrial output rose 55.9% in year-on-year terms in April, which was markedly above March's 8.3% increase. The result marked the best result on record, but was flattered by a supportive base effect. April's notable pick up was partly due to faster growth in manufacturing production. In addition, electricity supply output improved.

Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at an over one-year high of plus 0.7%, contrasting March's minus 7.0%.

FocusEconomics Consensus Forecast participants see fixed investment increasing 6.1% in 2021, which is up 3.0 percentage points from last month’s estimate. For 2022 our panel sees fixed investment softening 2.2%.


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Cyprus Industrial production Chart


Cyprus Industry April 2021

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


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