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Industrial Turnover Index In Cyprus: Resilient Growth Across Key Sectors

by THEFUTURE.TEAM

December 5, 2025

The latest figures from the Statistical Service of Cyprus (Cystat) underscore robust economic momentum, with the industrial turnover index rising to 151.8 units in September 2025—a 5.6% increase on the comparable month in 2024.

Overview Of Economic Activity

For the January to September 2025 period, the overall index improved by 4.2% when compared with the same timeframe last year. Local turnover posted a 5.9% rise, whereas export turnover advanced by 4.1%, reflecting balanced domestic and international market performance.

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Strong Performance In Manufacturing And Mining

Within the manufacturing sector, the index reached 143.4 units in September, registering an impressive annual gain of 9.6%. This robust performance was paralleled by an 8.5% rise in mining and quarrying activity. Sector-specific trends further demonstrate this momentum, as evidenced by the notable advances in:

Electronic and Optical Products and Electrical Equipment: up 36.4%
Machinery, Motor Vehicles and Other Transport Equipment: up 20.8%
Basic Metals, Fabricated Metal Products, Furniture, and Machinery Installation: over 21%
Wood And Cork Products: up 17.9%
Rubber, Plastic Products And Other Non-metallic Mineral Products: mid-range increases between 8.1% and 8.6%

Sectoral Challenges And Variations

Despite these advancements, certain sectors registered declines. Electricity supply experienced a 6% drop in September and an 8.8% fall for the January–September period, while water supply and materials recovery exhibited marginal degressions of 0.6% and 1.6%, respectively. Additionally, traditional segments such as textiles, wearing apparel, and leather products fell by 8.6%, with refined petroleum, chemicals, and pharmaceutical products declining by 8.9%.

Methodology And Data Collection Insight

The industrial turnover index is underpinned by systematic data collection from enterprises with turnover exceeding €2 million or employing 20 or more personnel; smaller enterprises are included via sampling methodologies. With 2021 as the base year—where the monthly average index is 100.0—the index offers a transparent measure of turnover shifts across the industrial spectrum. Data is typically collected by telephone or email within two months following the end of each reference period.

This comprehensive report not only outlines key growth areas within Cyprus’s industrial landscape but also provides critical insights for policymakers and investors eyeing long-term trends in the region.

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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.