Cyprus industrial production decline deepens in October

The decline in industrial output in Cyprus deepened in October, as the index of industrial production fell by 8.0% compared with October 2008, having fallen by 7.7% in September and 6.4% in August.
Within the industrial production total, manufacturing index fell by 13.7% compared with October 2008.
Meanwhile, industrial output prices in November were 1.0% lower than October and 3.5% lower than in the same period of 2008.
For the period January-November 2009, the index recorded a decrease of 1.6% compared with the corresponding period of the previous year.
However, the manufacturing industrial output prices index rose by 0.1% over the previous month in November and in January-November rose by 1.5% compared with the same period of the previous year.
The main reduction in prices has therefore come from the oil-dominated electricity supply sector.