Cyprus industrial decline moderates in January

The decline of industrial production moderated in Cyprus in January, as the index fell by 3.3% over the year earlier, having dropped by 6.1% in December and 4.3% in November.
Two subsectors actually posted growth. The subsector of chemicals and pharmaceuticals rose by 10.7% over the year earlier after four months of decline, and the subsector of electrical equipment posted a 9.2% increase after a 15.5% drop in December.
Meanwhile, industrial output prices fell by 0.1% over the previous month in January.
For the period January-February 2010, the prices index showed increased by 0.6% compared with the corresponding period of the previous year.