Cyprus industrial production collapses in January

Industrial production collapsed in January according to a newly devised index for industrial production.
The industrial production index in reached 92.3 in January (2005=100), recording a fall of 9.8% compared with January 2008.
Within the overall category of industrial production, the manufacturing index reached 87.6, recording a decrease of 9.9% compared with January 2008.
Mining and quarrying fell by 24.3%, electricity supply fell by 6.3%, while water supply and materials recovery fell by 13.3%
From January 2009, the Index of Industrial Production is published with a new base year (2005=100) and uses the new version of the EU-compatible statistical classification of economic activities, NACE Rev. 2.