Cyprus: Industrial output growth improves in August
Latest reading: Industrial production rose 2.7% year on year in calendar-adjusted terms in August (July: +2.4% c.a. yoy). Looking at the details of the release, manufacturing production rose at a quicker pace in August. That said, electricity, gas, steam and air conditioning supply output increased at a softer pace. In addition, mining and quarrying production decelerated.
Meanwhile, annual average of industrial production was steady coming in at July’s 3.6% in August. On a seasonally adjusted monthly basis, industrial production rebounded, rising 0.1% in August (July: -1.6% mom).