Greece Industry June 2016


Industrial production rises in June

In June, industrial production rose a working-day adjusted 7.5% compared to the same month last year, which came in above the revised 3.0% expansion tallied in May (previously reported: +2.9% year-on-year) and marked a multi-year high. June’s acceleration reflected a pick-up in manufacturing production as well as output of electricity and water supply.

Meanwhile, industrial output rose 9.3% over the previous month in seasonally-adjusted terms, which contrasted May’s revised 2.1% decrease (previously reported: -1.9% month-on-month). The trend pointed upward in June as annual average growth in industrial production rose from 1.0% to 2.0%.

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 June 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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