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Cyprus Industrial Production Advances Amid Diversified Sector Growth In 2025

by THEFUTURE.TEAM

February 26, 2026

Cyprus’ Industrial Production Index rose to 113.0 points in December 2025, marking a 3.5% increase compared with the same month a year earlier, according to data from the Cyprus Statistical Service. The figures suggest continued industrial momentum as the country’s production base expands across several manufacturing segments.

Overview Of Economic Momentum

Based on the 2021 reference value of 100 points, industrial output maintained an upward trend throughout 2025. For the full year, production increased by 3.6%, reflecting steady growth supported by manufacturing activity and ongoing industrial investment.

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Sector Analysis: Winners And Losers

Manufacturing remained the main driver of growth, expanding by 4.6% in December. Water supply and materials recovery also contributed, rising by 3.2%.

Other sectors showed weaker performance. Electricity supply declined by 2.4% compared with December 2024, while mining and quarrying fell by 1.7%, highlighting uneven performance across the industrial landscape.

In-Depth Manufacturing Performance

Within manufacturing, furniture production and related activities, including machinery repair and installation, recorded one of the strongest gains, rising 13.8% year over year.

Wood and cork products, excluding furniture, increased by 11.9%, while machinery, motor vehicles, and transport equipment production rose by 8.1%.

Annual Trends And Segment Challenges

For the full year, the manufacture of other non-metallic mineral products posted the strongest growth, rising 10.9% compared with 2024. Wood and cork products grew by 9.1%, while basic metals and fabricated metal products increased by 8%.

Furniture-related activities expanded by 7.2%. At the same time, paper products and printing declined by 9.5%, while textiles, apparel, and leather products fell by 3.8%. Electricity supply recorded a full-year decline of 2%, underscoring differences in sector performance.

Outlook

The latest data points to continued growth in Cyprus’ industrial sector, led primarily by manufacturing. At the same time, weaker performance in energy and selected manufacturing segments highlights areas where productivity and investment strategies may shape future industrial performance.

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Google Cloud Outage Disrupts Banking And Digital Services Across The UK

by THEFUTURE.TEAM

October 20, 2026

A power outage at a Google Cloud data centre near London disrupted services across the UK on Tuesday, affecting banks, businesses and other digital platforms. Google said the incident was caused by a power event at its cloud operations, with full recovery expected by around 1300 GMT.

The disruption began at 0608 GMT and affected Google Cloud services in the europe-west2 region, which is hosted in London. In an initial update, the company reported elevated error rates and intermittent network failures across multiple services as engineers worked to restore operations.

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Banking Services Hit By The Disruption

Revolut was among the most visibly affected companies, with customers reporting problems with ATM withdrawals, bank transfers and card top-ups. A source close to the matter linked the issues to the Google Cloud outage.

Traditional banks also reported disruptions. Lloyds said some customers were experiencing problems with its app and online banking, while HSBC confirmed difficulties accessing its services. HSBC added that it was monitoring the situation and noted that other organisations were affected as well.

Disruption Spreads Beyond Finance

Downdetector, which tracks online service disruptions, recorded hundreds of reports involving other businesses, including property website Rightmove and the Royal Mail postal service. The reports suggested that the outage was affecting multiple parts of the UK’s digital economy.

The incident highlights the risks facing businesses that depend on shared cloud infrastructure. Even a temporary failure at a single provider can disrupt services across several sectors, from banking and payments to logistics and consumer platforms.

Companies Reassure Customers

Revolut said it had been working to resolve the issue since it was identified and apologised to affected customers. The company also confirmed that customers’ money and data remained safe.

As cloud platforms underpin an increasing share of digital commerce, the outage illustrates how disruptions to critical infrastructure can spread far beyond the provider itself, affecting businesses and customers across the economy.