Cyprus: Industrial production accelerates in September
Latest reading: Industrial production was up 3.5% year-on-year in September on a calendar-adjusted basis, following a 2.2% increase in the previous month. September’s reading was a five-month high and exceeded the EU average for a second month.
Relative to the prior month’s figures, the reading for electricity, gas, steam and air conditioning supply improved in September (+5.5% in annual terms vs -2.6% in August). In contrast, the reading for manufacturing eased slightly (+3.1% vs +3.4% in August), while mining and quarrying swung into contraction (-2.6% vs +2.5% in August).
In seasonally and calendar-adjusted month-on-month terms, industrial production was up 1.0% in September, following a flat reading in the prior month.