Cyprus: Industrial output grows markedly in April
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%.