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Cyprus: Industrial output flatlines in May
Latest reading: Industrial output was flat year on year in calendar-adjusted terms in May, which was a deterioration from April’s 5.4% increase. The outturn marked the worst reading since November 2024. The reading was largely driven by declines in manufacturing output and in electricity, gas, steam and air conditioning supply. On the flip side, mining output rebounded.
Meanwhile, annual average industrial production growth fell to 2.5% in May (April: +2.8%), signaling a worsening trend in the industrial sector. On a seasonally adjusted monthly basis, industrial production fell 1.9% in May (April: +0.9% mom), marking the worst result since November 2024.
