Greece Industry


Industrial production falls again in July after slight improvement in June

In July, industrial production plummeted a working-day adjusted 5.0% over the same month last year, contrasting the 0.2% increase observed in June (previously reported: +0.3% year-on-year), which had represented the first increase since April 2008. The deterioration observed in July was broad-based, as all the main categories recorded lower readings over the previous month. In particular, manufacturing output registered the largest drop. As a result, the trend deteriorated further, with annual average variation in industrial production stepping down from minus 6.1% in June to minus 6.4%.

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Greece Industry Chart

Greece Industry July 2012

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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