Cyprus industrial output is volatile in 2006

The volatile industrial production index rose by 1.9% year on year in August, reaching 92.5 (base 2000=100), after a fall of 1.0% in July and a rise of 0.9% in June. For the period January-August 2006, the index recorded a decrease of 0.4% compared with the same period of 2005.

The manufacturing index fell in August by 0.5% compared to August 2005. Manufacturing, plagued by poor competitiveness has fallen every month so far this year except for May.

The only category of manufacturing that appears to perform consistently well is Electricity, gas and water, which rose every month this year and was up by 4.9% year on year in January to August.

Mining has been more volatile and rose by 2.6% year on year in the first eight months of the year.

The fastest growing category of manufacturing was output of electrical and optical equipment, up 22.9% year on year in Jan-August. The fastest falling was output of leather and leather products, down 23% year on year in the same period.