Industrial production plunged in March, recording the sharpest drop in six months and confirming that the economy remains deeply mired in recession. In March, industrial production declined 8.0% over the same month last year, after February's more moderate 4.8% contraction. The contraction was mainly the result of a 10.3% drop in the manufacturing sector (February: -6.8% yoy), which accounts for around 70% of total industrial output, along with further declines in water supply and electricity. In contrast, mining and quarrying somewhat offset the drop and registered a third consecutive positive reading, climbing 5.5% over the same month last year (February: +14.2% yoy). The annual average variation in industrial production confirms the deterioration suggested by the annual reading, as it stepped down from minus 5.4% in February to minus 5.8% in March.
Industrial production worsens further in March
May 10, 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.).