articles | 27 October 2016

Cyprus' industrial output rises 9.6% in August 2016

Industrial production rose an annual 9.6% in August 2016 aided by a strong growth in manufacturing, mining and quarrying, the statistical service said.

In August, the traditional holiday month, the output index in manufacturing rose 9.1% compared to the respective month of 2015, rebounding from a 0.1% drop the month before, Cystat said in a statement on its website. Mining and quarrying output rose 66% reflecting a pickup in demand for construction material.

Electricity supply rose 4.9% in August, compared to the respective month last year, while output in water supply and recycling rose 31%, Cystat said.

In January to August, the industrial output index rose an annual 9.3% but remained almost 20% of the 2010 average, Cystat said. Manufacturing output rose 7.9%.

Source: Cyprus Mail

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