Greece Industrial production August 2021


Greece: Industrial output growth picks up pace in August

October 8, 2021

Industrial output grew 10.1% year-on-year in working-day adjusted terms in August (July: +7.8% yoy). Looking at the details of the release, August's pick up was chiefly driven by a stronger growth in output in the manufacturing, electricity supply and water supply sub-sectors. That said, mining and quarrying output slid at a sharper rate over in August.

On a monthly basis, industrial production rose 0.7% in seasonally-adjusted terms in August, which was below July’s 2.5% expansion. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 6.9% in August, up from July's 5.7%.

FocusEconomics Consensus Forecast panelists see industrial production growing 7.2% in 2021, which is up 0.8 percentage points from last month’s forecast. In 2022, the panel sees industrial production growth softening to 4.0%, which is up 0.5 percentage points from last month’s estimate.


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Greece Industrial production Chart

Greece Industry August 2021

Note: Working-day adjusted, year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (ELSTAT) and FocusEconomics calculations.

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