Greece: Industrial production contracts in August
October 10, 2016
In August, industrial production fell a working-day adjusted 0.3% compared to the same month last year, which contrasted the revised 4.7% expansion in July (previously reported: +4.1% year-on-year). August’s result marked a five-month low and reflected slower growth in manufacturing and contractions in mining and quarrying and electricity output.
Meanwhile, industrial output fell 12.6% over the previous month in seasonally-adjusted terms, which notably contrasted July’s revised 2.7% increase (previously reported: +2.1% month-on-month). The trend pointed downwards in August as annual average growth in industrial production fell from 2.6% to 2.2%.