Cyprus: Industrial output records largest decrease in over one year in November
Latest reading: Industrial output dropped 3.0% year on year in calendar-adjusted terms in November, which contrasted October’s 2.8% increase. The outturn marked the worst reading since March 2023. November’s notable deterioration was driven by contractions in manufacturing and mining and quarrying output.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.7%, down from October’s 3.1% reading. On a seasonally adjusted monthly basis, industrial output fell 2.6% in November (October: +0.9% mom), the worst result since March 2023.