Industrial production decreases in Cyprus by -0.6% in August 2017 in monthly basis, grows by 6.6% annually

In September 2017 compared with August 2017, seasonally adjusted industrial production fell by 0.6% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat, the statistical office of the European Union.

In August 2017, industrial production rose by 1.4% in the euro area and by 1.7% in the EU28. In September 2017 compared with September 2016, industrial production increased by 3.3% in the euro area and by 3.6% in the EU28.

In Cyprus industrial production decreased by -0,6% in monthly basis and increased by 6.6% in annual basis for the month of August (latest available data).

The decrease of 0.6% in industrial production in the euro area in September 2017, compared with August 2017, is due to production of capital goods falling by 1.6%, both energy and durable consumer goods by 0.9% and intermediate goods by 0.6%, while production of non-durable consumer goods rose by 0.1%. In the EU28, the decrease of 0.5% is due to production of capital goods falling by 1.4%, energy by 0.6%, both intermediate goods and non-durable consumer goods by 0.3% and durable consumer goods by 0.1%. Among Member States for which data are available, the largest decreases in industrial production were registered in Portugal (-6.7%), Denmark (-3.7%) and Greece (-3.6%), and the highest increases in the Netherlands (+4.3%), Sweden (+2.4%) and Estonia (+2.3%).

The increase of 3.3% in industrial production in the euro area in September 2017, compared with September 2016, is due to production of durable consumer goods rising by 6.9%, intermediate goods by 4.6%, capital goods by 4.5% and non-durable consumer goods by 1.5%, while production of energy fell by 1.7%. In the EU28, the increase of 3.6% is due to production of durable consumer goods rising by 6.6%, capital goods by 4.9%, intermediate goods by 4.7% and non-durable consumer goods by 1.6%, while production of energy fell by 0.1%. Among Member States for which data are available, the highest increases in industrial production were registered in Latvia (+12.9%), Slovenia (+8.6%) and Hungary (+8.0%). A decrease was observed in Ireland (-3.1%).

source: CNA