Industrial output plummeted 12.7% year-on-year in March (February: +3.8% yoy), marking the steepest drop since November 2013. March’s plunge was primarily driven by heavy drops in manufacturing and water supply production.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 1.1% in March, down from February’s 2.2%.
FocusEconomics Consensus Forecast participants see fixed investment plunging 12.5% in 2020, which is up 3.8 percentage points from last month’s estimate, and growing 10.5% in 2021.
Source:https://www.focus-economics.com/countries/cyprus/news/industry/industrial-production-falls-at-sharpest-rate-in-over-six-years-in