In December, industrial production dropped 5.2% over the same month last year, following a 7.8% plunge in November. The reading confirms the notion that the industrial sector remains depressed. The December decline was broad-based, as all sectors deteriorated over the same month last year. That said, the contraction was primarily driven by the manufacturing sector, which declined 4.0% year-on-year, as well as electricity supply, which fell 8.8% yoy. The mining and quarrying sector dropped 7.8% in December. Despite the negative monthly reading, annual average variation in industrial production stepped up from minus 5.8% in November to minus 5.7% in December, closing the third consecutive year with a contraction.
Industrial production declines for the third consecutive year
February 9, 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.).