Greece Industry


Industrial production continues to deteriorate

In November 2013, industrial production fell a working-day adjusted 6.1% over the same month of the previous year. The fall was below the revised 4.7% decrease observed in October (previously reported: -5.2% year-on-year). November's figure reflects a broad-based deterioration, with mining and quarrying as well as electricity marking the largest decreases compared to the previous month.

As a result of the annual reading, annual average variation in industrial production fell from minus 3.5% in October to minus 3.7% in November.

FocusEconomics Consensus Forecast panelists see industrial production rising 0.6% in 2014, which is unchanged from last month's forecast. In 2015, the panel sees industrial production increasing 1.8%.

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Greece Industry Chart

Greece Industry November 2013

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (EL.STAT) and FocusEconomics calculations.

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