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Cyprus Industrial Output Edges Up 0.3% In June As Mining And Manufacturing Grow

Cyprus’ industrial sector posted modest growth in June 2026, with production rising by 0.3% year on year, according to figures released by the statistical service Cystat.

The overall industrial production index reached 117.6 points, using 2021 as the base year of 100. Over the first six months of 2026, industrial output was 1.2% higher than in the same period a year earlier, indicating a sector that is expanding, albeit unevenly.

Mining And Water Supply Lead Monthly Gains

June’s performance was driven by strength in mining and quarrying, which rose 11.4% annually, and by water supply and materials recovery, which increased 1.5%. Manufacturing also registered a gain, albeit a narrower one, rising 0.6% from June 2025.

By contrast, electricity supply fell 4% over the same period, underscoring the mixed nature of the country’s industrial trajectory.

Mixed Performance Across Industrial Activities

Within water supply and materials recovery, the two activities diverged sharply. Water collection, treatment and supply climbed 14.2%, while materials recovery dropped 15.1%.

Among manufacturing subsectors, other non-metallic mineral products recorded the strongest annual increase in June, up 7.5%. Rubber and plastic products followed with growth of 4.7%, while wood and cork products excluding furniture and basic metals and fabricated metal products each advanced 2.3%.

Smaller gains were seen in textiles, wearing apparel and leather products, which edged up 0.4%.

Several manufacturing categories, however, moved in the opposite direction. Machinery, equipment, motor vehicles and other transport equipment saw the steepest decline, falling 8.5%. Production of electronic and optical products and electrical equipment decreased 2.4%, while furniture, other manufacturing, and the repair and installation of machinery and equipment slipped 2.3%.

Paper products and printing fell 0.7%, food, beverages and tobacco products declined 0.6%, and refined petroleum products, chemicals and pharmaceutical products and preparations were down 0.5%.

First-Half Output Shows Broader Stability

Looking at the January-to-June period, the underlying picture was more stable. Manufacturing output increased 0.7% year on year, mining and quarrying rose 1.1%, and water supply and materials recovery grew 2.5%.

Among individual activities, water collection, treatment and supply delivered the strongest first-half expansion, increasing 11.5%. Basic metals and fabricated metal products followed with growth of 5.1%, while electricity supply rose 4.3%.

Other non-metallic mineral products advanced 3.4%, and wood and cork products excluding furniture increased 3.2%. Refined petroleum products, chemicals and pharmaceutical products and preparations were up 1.8%, while rubber and plastic products rose 1.4%. Paper products and printing increased 0.7%, and food, beverages and tobacco products were unchanged from the same period in 2025.

On the downside, materials recovery recorded the sharpest decline in the first half, falling 8.8%. Machinery, equipment, motor vehicles and other transport equipment dropped 5.9%, while furniture, other manufacturing, and the repair and installation of machinery and equipment decreased 4.2%. Textiles, wearing apparel and leather products declined 3.9%, and electronic and optical products and electrical equipment edged down 0.4%.

The latest data point to an industrial economy moving forward at a measured pace, with gains in essential and extractive activities helping to offset weakness in several manufacturing segments.

NERDs Replace FIRE As Young Workers Lose Confidence In Retirement

The FIRE movement promised younger workers a path to financial independence and early retirement. Now, a different group is emerging in the UK: NERDs, or the “Never Ever Retiring Demographic.”

Growing pessimism among Gen Z and millennials is driving the shift, with many questioning whether retirement will ever be financially achievable. Some are responding by reducing or abandoning pension contributions altogether.

Young Workers Are Losing Confidence In Retirement

Research from People’s Pension, a major UK workplace pension provider, found that 47% of Gen Z respondents aged 18 to 27 do not engage with their pension. Another 12%, equivalent to about 2.2 million young people, have stopped saving for retirement because they expect to work indefinitely.

Wider financial pressures are contributing to that outlook. High living costs have pushed milestones such as homeownership, marriage, having children and retirement further away for many younger workers, while inflation, layoffs and stagnant wages have added to uncertainty.

Pension Providers Face A Communication Gap

Financial pressure is only part of the problem. Young workers also say pension providers are failing to explain long-term saving in ways that feel relevant to them.

About 36% of respondents said providers do not explain retirement saving effectively. Among them, 27% said companies appear more focused on selling products than educating customers, while 16% cited complicated language and jargon.

A clear generational difference emerges in the responses. Some 29% of Gen Z respondents said providers fail to explain why pension saving matters, compared with 13% of Gen Xers and Baby Boomers. Similarly, 17% of Gen Z said providers do not use channels they engage with, versus 4% among older generations.

Clearer information could influence behavior. About 70% of Gen Z respondents said they would have started saving earlier if they had known that beginning in their 20s could potentially double their retirement pot compared with starting in their 30s. Another 63% said learning about tax relief and employer contributions motivated them to save.

“In a world where financial doom dominates pension conversations, young savers are tuning out,” said Kirsty Ross, proposition director at People’s Pension. “Our research shows they are not disengaged because they don’t care, they are disengaged because the messages aren’t working.”

Young Savers Want Simpler Tools

Progress bars and goal trackers were among the most popular tools respondents said could make pensions more relevant, cited by 31%. Another 26% wanted reassurance that they could start with small amounts, while 23% wanted examples of what people their age are doing.

Clear, bite-sized steps were cited by 22%, while 19% said light-hearted and relatable stories could make pensions more accessible.

People’s Pension has responded with Pension Drop, a campaign using social media influencers, live events and lifestyle personalities to encourage conversations about retirement saving.

“Looking back, I really wish I’d started earlier,” said Iain Stirling, comedian, TV presenter and Pension Drop ambassador. He said contributions made in someone’s 20s or 30s can make a significant difference later, while employer contributions and tax relief can increase the value of smaller payments.

Small Changes Can Improve Long-Term Saving

Stirling urged younger workers to check their pension provider, establish whether they have multiple pension pots and make sure they are contributing enough to receive the full employer match.

He also recommended increasing contributions after a pay rise or bonus, allowing workers to raise long-term savings without making a large immediate change to their spending.

For younger workers facing high living costs and uncertain career prospects, pension saving remains a difficult sell. Clearer information about employer contributions, tax relief and the long-term effect of starting early could help make retirement planning more tangible.

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