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.