Industrial production in Cyprus up by 1.3% and 6.3% in monthly and annual basis respectively in March 2018

In April 2018 compared with March 2018, seasonally adjusted industrial production fell by 0.9% in the euro area (EA19) and by 0.8% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In March 2018, industrial production rose by 0.6% in the euro area and by 0.5% in the EU28. In April 2018 compared with April 2017, industrial production increased by 1.7% in both zones. In Cyprus idustrial production has increased by 1.3% in March 2018 in monthly and by 6.3% in annual basis (latest data available).

The decrease of 0.9% in industrial production in the euro area in April 2018, compared with March 2018, is due to production of energy falling by 5.0%, durable consumer goods by 2.2%, non-durable consumer goods by 1.2% and intermediate goods by 0.8%, while production of capital goods rose by 1.9%. In the EU28, the decrease of 0.8% is due to production of energy falling by 3.8%, durable consumer goods by 1.9%, non-durable consumer goods by 1.0% and intermediate goods by 0.7%, while production of capital goods rose by 1.0%. Among Member States for which data are available, the largest decreases in industrial production were registered in Lithuania (-7.9%), the Netherlands (-4.4%) and Greece (-3.3%), and the highest increases in Ireland (+9.1%), Romania (+2.1%) and Denmark (+0.8%).

The increase of 1.7% in industrial production in the euro area in April 2018, compared with April 2017, is due to production of capital goods rising by 4.3%, intermediate goods by 0.8%, non-durable consumer goods by 0.7% and durable consumer goods by 0.4%, while production of energy fell by 0.7%. In the EU28, the increase of 1.7% is due to production of capital goods rising by 4.7%, durable consumer goods by 1.3%, intermediate goods by 0.8% and non-durable consumer goods by 0.4%, while production of energy remained unchanged. Among Member States for which data are available, the highest increases in industrial production were registered in Slovenia (+6.9%), Romania (+6.0%) and Poland (+5.9%), and the largest decreases in Malta (-5.8%), Ireland (-4.7%) and Croatia (-1.3%).

Source: Cyprus News Agency