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Cyprus Industrial production August 2023

Cyprus: Industrial output posts quickest growth since May 2022 in August

Industrial output expanded 2.9% year on year in calendar-adjusted terms in August, which was above July’s 1.2% increase. The figure marked the best reading since May 2022. August’s acceleration was primarily due to upturns in manufacturing and electricity, gas, steam and air conditioning supply production.

Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 0.1%, up from July’s minus 0.5% reading. On a monthly basis, industrial output increased 0.2% in seasonally adjusted terms in August, which was below July’s 0.5% expansion.

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