Cyprus: Industrial output expands at quickest pace since June in December
Latest reading: Industrial production rose 3.1% year on year in calendar-adjusted terms in December (November: -4.2% c.a. yoy). December’s figure marked the best reading since June. Looking at the details of the release, December’s rebound was broad-based, with the manufacturing, electricity, gas, steam and air conditioning supply and mining and quarrying sub-sectors all accelerating.
Meanwhile, annual average of industrial production was stable coming in at November’s 2.5% in December. On a seasonally adjusted monthly basis, industrial production rebounded, rising 3.7% in December (November: -2.8% mom), the best result since July 2020.