In August, industrial production rose a working-day adjusted 2.5% over the same month last year, contrasting the 4.9% drop observed in July (previously reported: +5.0% year-on-year). The August reading represents the first annual increase seen since November 2007. That said, given the small size of the industrial sector, which accounts for only around 15% of the economy, it is very unlikely that this positive result signals the recovery of the Greek economy. The improvement was broad-based, as all but one of the main categories recorded higher readings over the previous month. In particular, manufacturing output registered the most relevant gain, increasing by 2.0%. As a result of the positive August result, the trend improved, with annual average variation in industrial production stepping up from minus 6.5% in July to minus 5.4%.
Industrial production rises for the first time in almost five years
October 10, 2012
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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.).