Cyprus Industrial production October 2021

Cyprus

Cyprus: Industrial output records slowest expansion since February in October

December 30, 2021

Industrial output increased 1.7% compared to the same month a year earlier in October, which followed September's 2.4% increase. The outturn marked the worst reading since February. The slowdown was largely driven by a deterioration in manufacturing production. In contrast, electricity supply production dropped at a softer rate.

Meanwhile, annual average industrial production growth rose to 6.7% in October (September: +6.0%), which marked an over two-year high.

FocusEconomics Consensus Forecast participants see fixed investment increasing 4.1% in 2022, which is unchanged from last month’s estimate. For 2023 our panel sees fixed investment growing 3.4%.


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Cyprus Industrial production Chart


Cyprus Industry October 2021

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


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