Turnover value index in services drops in 2nd quarter 2020

The Turnover Value Index during the second quarter of 2020, which includes 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%), while an increase of 1.9% was recorded in information and communication activities compared to the corresponding quarter of 2019.

According to the Statistical Service, during the period January-June 2020 decreases relative to the corresponding period of 2019 were observed in the index of accommodation and food service activities by 60.0%, of professional, scientific and technical activities by 8.8% and of administrative and support service activities by 26.8%, while an increase of 1.3% was observed in information and communication activities.