In August, industrial production fell 2.1% over the same month last year, which represented an improvement compared to the 9.1% drop registered in July. However, the industrial sector remains mired in recession despite the favorable base effect. The improvement in August was driven by a rebound in mining and quarrying, which expanded 3.1% year-on-year contrasting the 15.8% contraction in July, as well as a better performance of water supply (July: -5.9% yoy; August: +2.3% yoy) and electricity supply (July: -6.0% yoy; August: +0.2% yoy). Nonetheless, the all-important manufacturing sector remains in negative territory, decreasing 3.9% yoy, which represents a slower rate of contraction compared to the 9.7% drop in the previous month. Despite the monthly reading, the trend continues to improve, as the annual average variation in industrial production stepped up from minus 7.0% in July to minus 6.4% in August.
Industrial production moderates rate of contraction in August
October 11, 2010
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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.).