Greece Industry


Industrial production swings back to expansion

In January, industrial production expanded a working-day adjusted 0.1% compared to the same month of the previous year, which contrasted the revised 3.2% contraction tallied in December (previously reported: -3.8%). January’s gain reflected an improvement in all of the sub-components that comprise the index.

Industrial output declined 4.7% over the previous month in seasonally-adjusted terms in January, which was below the 2.7% fall in December. January’s result marked a five-month low. Annual average variation in industrial production increased from minus 2.2 in December to minus 1.9 in January.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.3% in 2015, which is down 0.5 percentage points from last month’s forecast. In 2016, the panel sees industrial production increasing 1.7%.

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Greece Industry Chart

Greece Industry January 2015

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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