Nicosia: The industrial turnover index reached 125.3 units (base 2021=100) in November 2024, recording a decrease of 5.6% compared to November 2023, according to data published by the Statistical Service on Wednesday.
According to Cyprus News Agency, a month-long strike in the ready-mix concrete sector took place during November, which may have contributed to the decline. In manufacturing, the industrial turnover index for November 2024 reached 124.6 units, showing a decrease of 2.5% compared to November 2023. Significant decreases were also seen in the sectors of mining and quarrying, which fell by 24%, and electricity supply, which dropped by 18.8%.
Conversely, an increase was observed in the water supply and materials recovery sector, which rose by 4.7%. Despite the overall decline in November, the industrial turnover index for the period from January to November 2024 recorded a slight increase of 1.2% compared to the same period in the previous year.