Industrial production in Cyprus declined at a faster pace in March, data released by the statistical office showed Thursday.
Industrial output decreased 14.2 percent on an annual basis in March, after falling 8.5 percent in the previous month. In January, production decreased 9.4 percent year-on-year.
Output in the mining and quarrying industry plunged 40.1 percent annually, while manufacturing production dropped 13.4 percent. There was a 15.1 percent year-on-year fall in electricity production during the month.
In the January-March period, industrial production contracted 10.8 percent from the corresponding period a year earlier, data showed.
by RTT Staff Writer
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