Insider Economy Turnover Value Index in Services drops in 2nd Quarter of 2020

Turnover Value Index in Services drops in 2nd Quarter of 2020

The Turnover Value Index during the second quarter of 2020, including the period during which COVID-19 containment measures were in force in Cyprus, recorded decreases in accommodation and food service activities (-79.6%), professional, scientific and technical activities (-14.8%) and administrative and support service activities (-42.0%).

At the same time, an increase of 1.9% was recorded in information and communication activities compared to the corresponding quarter of 2019.

According to CyStat, during the January – June 2020 period, decreases by 60.0% – relative to the corresponding period of 2019 – were observed in the index of accommodation and food service activities, by 8.8% of professional, scientific and technical activities, and by 26.8% of administrative and support service activities.

At the same time an increase of 1.3% was observed in information and communication activities.

(CNA)

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