Cyprus: Industrial output loses momentum in October
Industrial production rose 1.8% year-on-year in October, down from September’s revised 6.1% jump (previously reported: +5.0% year-on-year) which had marked best result in seven months. October’s slowdown was mainly driven by a contraction of the mining and quarrying, electricity and water supply sectors after they grew in the previous month. In addition, manufacturing output lost steam in October.
Meanwhile, the annual average growth in industrial production fell to 3.9% in October from 4.7% in September.