FX.co ★ Cyprus Industrial Output Grows 2.0% In October

According to the Statistical Service, Cyprus experienced an accelerated increase in industrial production in October, as reported on Monday.

Year-over-year, industrial production saw a 2.0 percent growth in October, up from a 1.1 percent rise in September, marking a continuous climb since May of the previous year.

Examining the sectors individually, mining and quarrying output saw a significant growth of 5.9 percent compared to the previous year, while manufacturing production increased by 1.8 percent. Furthermore, there was a 1.1 percent rise in output within the electricity supply segment.

In the manufacturing domain, notable positive growth was recorded in the production of rubber and plastic products, machinery and equipment, motor vehicles, and other transport equipment. Additionally, other non-metallic mineral products, along with food products, beverages, and tobacco products, also contributed significantly to the uptrend, as highlighted by the agency.