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Cyprus Industrial production December 2023

Cyprus: Industrial output growth picks up pace in December

Industrial output increased 4.3% year on year in calendar-adjusted terms in December, which was above November’s 3.2% increase. December’s figure was largely due to an improvement in manufacturing output growth. In contrast, electricity, gas, steam and air conditioning supply production decelerated.

Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 2.0%, up from November’s 1.8%. On a monthly basis, factory output grew 0.5% in seasonally adjusted terms in December, which was below November’s 1.6% expansion.

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