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%.
Author: Javier Colato, Economist