Cyprus industrial production drops 10.9% y/y in May

Industrial production fell sharply in May, according to the latest figures from the Statistical Service.
The index of industrial production for April 2009 reached 92.8 (base 2005=100), recording a decrease of 10.9% compared with April 2008.
For the period January – April 2009, the index recorded a decrease of 9.5% compared with the same period of the previous year.
For manufacturing, the index for April 2009 reached 93.7, recording a decrease of 13.4% compared with April 2008.
Meanwhile, the industrial output prices index for May 2009 reached 116.3 (base 2005=100), recording a decrease of 0.3% compared with April 2009.
For the period January-May 2009, the index showed an increase of 1.0% compared with the corresponding period of the previous year.
For manufacturing, the index for May 2009 reached 117.4, recording a decrease of 0.3% compared with April 2009.