Cyprus industrial production grows in August

Industrial production grew in the holiday month of August but performance has been uneven in recent months.
The index of industrial production for August 2010 rose by 6.0% compared with August 2009, having fallen by 4.8% in July and 0.5% in June.
The strongest growth rate was recorded by mining and quarrying, up 36.6%, followed by water supply and materials recovery, up 15.8%.
Electricity supply slow showed healthy growth of 13.3%, perhaps because record temperatures raised demand for air-conditioning.
The sector of manufacturing grew by only 0.5%, however.
For the period January – August 2010, the industrial production index recorded a decrease of 0.7% compared to the same period of the previous year, while the manufacturing index rose by 0.5%.

Meanwhile, the industrial output prices index rose by 0.2% over the previous month in September, while the manufacturing prices index rose by 0.5%.
In the period January-September 2010, the index increased by 3.7% compared with the corresponding period of the previous year.