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Cyprus Industrial production February 2024

Cyprus: Industrial output records lowest expansion since June 2023 in February

Industrial production rose 1.0% year on year in calendar-adjusted terms in February (January: +1.6% c.a. yoy). The figure marked the worst reading since June 2023. Looking at the details of the release, electricity, gas, steam and air conditioning supply output swung to contraction, while manufacturing output gained traction.

Meanwhile, annual average industrial production growth fell to 1.3% in February (January: +1.4%). This signals a worsening trend in the industrial sector. On a seasonally adjusted monthly basis, industrial production rebounded, rising 0.2% in February (January: -0.7% mom s.a.).

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