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The Statistical Office informs that short-term indicators will soon start to be presented with 2021 as the new base year (instead of 2015). This change will apply from the date of publication of the data for the first reference period of each indicator for 2024.
Changing the base year at regular intervals is a common practice at the international level that aims to better reflect changes in the structure of an economy over time. This process implies a revision of the weights used in the calculation of each indicator and changes in the sample of enterprises of the indicators.
The base year change is usually made every five years, in the years ending in "0" or "5". This time, however, the change is exceptionally made at six years due to the introduction of the new legal basis for European business statistics, Regulation (EU) 2019/2152, which entered into force on 1 January 2021. In addition, the outbreak of the Covid-19 pandemic in 2020 made this year unrepresentative to be selected as a base year.
The indicators with the new base 2021=100 will be calculated for all years from 2021 onwards. Data with the older base years will continue to be available on the Statistical Office's web portal, either in the Predefined Tables (in MS Excel format) or in the database CYSTAT-DB.
The provisional release dates of the indicators with the new base year are presented in the table below. For confirmation of the final dates, users are invited to consult the Announcement Calendar on a regular basis.
| Index |
[TD]
Reference Period
[/TD] [TD]Publication Date
[/TD] [/TD][TR] [TD]
Manufacturing
[/TD] [/TR] [TR] [TD]Producer Price Index in Manufacturing
[/TD] [TD]January 2024
[/TD] [TD]14 March 2024
[/TD] [/TR] [TR] [TD]Industrial Production Index
[/TD] [TD]January 2024
[/TD] [TD]28 March 2024
[/TD] [/TD] [/TR] [TR] [TD]Industrial Cycle Index
[/TD] [TD]January 2024
[/TD] [TD]5 April 2024
[/TD] [/TD] [/TR] [TR] [TD]
Index
[/TD] [TD]Reference Period
[/TD] [TD]Publication Date
[/TD] [/TR] [TR] [TD]
Construction
[/TD] [/TR] [TR] [TD]Construction Materials Price Index
[/TD] [/TD] [TD]January & February 2024
[/TD] [/TD] [TD]20 March 2024
[/TD] [/TD] [/TR] [TR] [TD]Construction Production Index
[/TD] [TD]1st & Q2 2024
[/TD] [/TD] [TD]7 October 2024
[/TD] [/TR] [TR] [TD]Producer Price Index in Construction
[/TD] [TD]1st & Q2 2024
[/TD] [/TD] [TD]7 October 2024
[/TD] [/TR] [TR] [TD]
Wholesale and Retail Trade
[/TD] [/TR] [TR] [TD] [TD]Retail Trade Excluding Motor Vehicles Business Cycle Index
[/TD] [/TD] [TD]January & February 2024
[/TD] [TD]3 April 2024
[/TD] [/TR] [TR] [TD]Index of Labour Turnover Value in Wholesale Trade and Motor Trades
[/TD] [TD]1st Quarter 2024
[/TD] [TD]25 June 2024
[/TD] [TD]25 June 2024
[/TD] [/TD] [/TR] [TR] [TD]Transport and Storage
[/TD] [/TR] [TR] [TD]Transport and Storage Business Cycle Index Storage
[/TD] [/TD] [TD]Q1 2024
[/TD] [TD]20 May 2024
[/TD] [/TR] [TR] [TD]
Other Services
[/TD] [/TR] [TR] [TD] [TD]Services Business Cycle Index
[/TD] [/TD] [TD]Q1 2024
[/TD] [TD]31 May 2024
[/TD] [/TR]
For more information, interested parties can visit the Statistics Service's Portal, sub-topic Industry, Construction, Trade, Services, CYSTAT-DB (Database), Predefined Tables (Excel) or contact Ms. Evi Kalogirou Demetriou: tel: 22602168, tel: ekalogirou@cystat.mof.gov.cy.
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