Industrial production slumped in June, recording the sharpest contraction since April 2009 and confirming that the economy remains deeply mired in recession. In June, industrial production declined 13.1% over the same month last year, following a fall of 10.5% in May. The contraction was broad-based as all sub-components dropped, most notably mining and quarry as well as manufacturing. The annual average variation in industrial production confirms the deterioration suggested by the annual reading, stepping down from minus 6.8% in May to minus 7.6% in June. Austerity measures introduced as a part of the conditions of the two bailout packages are taking a massive toll on economic activity.
Industrial production continues to deteriorate in June
August 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.).