Industrial production in Cyprus was up in October and in the first ten months of this year, data released by the Cyprus Statistical Service, on Monday, shows.
In particular, the index of industrial production for October 2019 reached 136.2 units (base 2015=100), recording an increase of 1.8% compared to October 2018.
During the period January – October 2019, the index showed an increase of 3.4% compared to the corresponding period of the previous year.
In manufacturing, the index for October 2019 reached 146.0 units, recording an increase of 3.2% compared to October 2018.
During the period January – October 2019, the Manufacturing sector showed an increase of 4.4% compared to the corresponding period of the previous year.
How do you measure industrial production?
Industrial production takes into account metrics that combine “levels of production by the manufacturing sector, mining (which includes oil and gas field drilling services) and electrical and gas utilities” (source: IP). All of these measures are contrasted to figures from a base year.
How has Cyprus been doing during recent years?
Cyprus‘ industrial production has been on a positive trend in recent years after a rough patch between 2011 and 2014.