Greece Industry


Industrial production deteriorates slightly in May

In May, industrial production fell a working-day adjusted 2.9% over the same month last year, following a 2.6% contraction in April (previously reported: -2.2% year-on-year). The deterioration observed in May was mainly due to a fall in the mining and quarrying category as well as a steeper decline in manufacturing output. Despite the drop, the trend improved somewhat, with annual average variation in industrial production stepping up from minus 8.1% in April to minus 7.5% in May.

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Greece Industry Chart

Greece Industry May 2012

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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