Cyprus Industry January 2020


Cyprus: Industrial output shrinks at the turn of 2020

March 30, 2020

Industrial production slid 1.4% year-on-year in January, contrasting December’s 2.6% expansion and marking the first fall since June 2019. January’s downturn was primarily driven by sharper contractions of the water and electricity supply sectors, and a moderation in manufacturing output compared to the previous month.

Meanwhile, the annual average growth in industrial production dipped to 2.6% from December’s 3.3%.

FocusEconomics Consensus Forecast participants see fixed investment plunging 8.7% in 2020, which is down 17.6 percentage points from last month’s estimate, and growing 7.1% in 2021.

Author:, Economist

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Cyprus Industry Chart

Cyprus Industry January 20 20

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

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