Industrial production plunged in April, recording the sharpest drop since July 2009 and confirming that the economy is likely to remain mired in recession during the second quarter. In April, industrial production declined 11.0% over the same month last year, after March's already dire 8.3% contraction (previously reported: -8.0% year-on-year). The contraction was mainly the result of an 11.3% drop in the manufacturing sector (March: -10.3% yoy), which accounts for around 70% of total industrial output, although all other subcomponents also recorded losses. The annual average variation in industrial production confirms the deterioration suggested by the annual reading, stepping down from minus 5.9% in March to minus 6.3% in April.
Industrial production plummets in April
June 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.).