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Cyprus Industrial production May 2020

Cyprus: Plunge in industrial activity softens in May

Industrial production declined 14.9% year-on-year in May, less than April’s 35.3% plunge which had marked the steepest drop on record. May’s softer fall reflected weaker contractions across all the major sectors.

Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.0% in May, down from April’s minus 1.6% reading.

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