In October, industrial production declined 12.3% over the same month last year, which followed a 1.4% contraction in September (previously reported: -1.7% year-on-year) and, in fact, represented the second sharpest decline since January 2009. Manufacturing output fell 11.9% in October (August: -1.7% yoy) while mining and quarrying as well as water supply also recorded losses. As a result of the sharp contraction, annual average variation in industrial production stepped down from minus 7.2% in September to minus 7.8% in October. According to some analysts, the big drop in the October's industrial output reflects depressed domestic demand and slowing export activity due to weakening conditions among the country's main trading partners.
Industrial production contracts sharply in October
December 8, 2011
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Greece Economic News
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).
October 6, 2016
The number of unemployed fell by 5,357 in July, according to the Hellenic Statistical Authority (EL.STAT.).
October 3, 2016
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) deteriorated in September, erasing most of the gains made in August.
September 9, 2016
In July, industrial production rose a working-day adjusted 4.1% compared to the same month last year, which came in below the revised 7.9% expansion in June (previously reported: +7.5% year-on-year).
September 8, 2016
The number of unemployed fell by 6,800 in June, according to the Hellenic Statistical Authority (EL.STAT.).