Industrial Turnover in March recorded its first annual rise following 11 months

Cyprus Industrial Turnover Index in March marked its first annual increase after eleven months, reflecting the acceleration of economic activity following the gradual relaxation of restrictions to contain the coronavirus pandemic.

According to data released today by the Cyprus Statistical Service, the index in March 2021 reached 134.7 units (base 2015=100), recording an increase of 5.2% compared to March 2020.
 
However, for the period January-March 2021, the index remained in negative territory, recording a decrease of 4.7% compared to the respective period of last year.
 
For manufacturing, the Industrial Turnover Index for March 2021 reached 139.1 units, recording an increase of 6.1% year on year.
Increases of 38,3% and 48.2% were also registered in the sectors of mining and quarrying and water supply and materials recovery respectively. 
 
However, a decrease of 9.3% was recorded in the sector of electricity supply, Cystat added.