Cyprus Industrial production June 2021

Cyprus

Cyprus: Industrial production expands at softer pace in June

August 30, 2021

Industrial output growth moderated to 4.6% in annual terms in June, following May’s 12.0% expansion, logging the lowest print in four months. Looking at the details of the press release, June’s slowdown was attributed to softer growth in mining and quarrying, as well as manufacturing output. That said, electricity supply and water supply production rose at a quicker pace over the prior month.

Lastly, the trend improved, with the annual average growth of industrial production coming in at plus 4.3%, notably above from May’s 3.1% reading.

FocusEconomics Consensus Forecast participants see fixed investment increasing 5.8% in 2021, which is down 0.3 percentage points from last month’s estimate. For 2022 our panel sees fixed investment softening 1.1%.


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