Cyprus industrial production drops 5.9% in July

The index of industrial production in Cyprus reached 110.2 (base 2005=100) in June, recording a decrease of 5.9% compared with June 2008.
The manufacturing subsector index fell by 9.2% compared to June 2008.
Our analysis of the figures shows that the only manufacturing subsector to show an increase in June was chemicals and pharmaceuticals, up by 5.9%.
The biggest fall was seen in “installation of machinery and equipment”, down by 22.9%, closely followed by production of machinery and equipment, down 21.6%.
For the period January – June 2009, the total industrial production index recorded a decrease of 9.1% compared to the same period of the previous year.
Meanwhile, industrial output prices rose by 1.6% in June compared with the same month of 2008, while the manufacturing price index was stable.
However, for the period January-July 2009, the index recorded a decrease of 0.1% compared to the corresponding period of the previous year.