Cyprus: Industrial output notches quickest growth since May 2021 in June
Industrial output expanded 8.8% year on year in calendar-adjusted terms in June (May: +5.1% c.a. yoy). June’s print marked the best reading since May 2021. Looking at the details of the release, June’s pickup was broad-based, with the manufacturing, electricity, gas, steam and air conditioning supply and mining and quarrying sub-sectors all accelerating.
Meanwhile, annual average industrial production growth rose to 3.8% in June (May: +3.1%), which marked a two-year high. On a monthly basis, industrial production rose 1.7% in seasonally adjusted terms in June, which was below May’s 1.9% expansion.