Industrial production slid 1.4% year-on-year in January, contrasting December’s 2.6% expansion and marking the first fall since June 2019. January’s downturn was primarily driven by sharper contractions of the water and electricity supply sectors, and a moderation in manufacturing output compared to the previous month.
Meanwhile, the annual average growth in industrial production dipped to 2.6% from December’s 3.3%.
FocusEconomics Consensus Forecast participants see fixed investment plunging 8.7% in 2020, which is down 17.6 percentage points from last month’s estimate, and growing 7.1% in 2021.
Source:https://www.focus-economics.com/countries/cyprus/news/industry/industrial-output-shrinks-at-the-turn-of-2020