Greece Industry July 2016


Industrial production decelerates in July

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). June’s result had marked a multi-year high. July’s deceleration reflected slower growth in water supply and a contraction in electricity output.

Meanwhile, industrial output rose 2.1% over the previous month in seasonally-adjusted terms, which was notably below June’s revised 9.6% increase (previously reported: +9.3% month-on-month). The trend continued to point upwards in July as annual average growth in industrial production rose from 2.0% to 2.6%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.1% in 2016, which is up 0.2 percentage points from last month’s forecast. In 2017, the panel sees industrial production growing 1.6%.

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Greece Industry Chart

Greece Industry July 2016 0

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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