In September, industrial production plunged 7.1% over the same month last year, which represented a strong deterioration compared to the 1.2% drop registered in August. The reading confirms the notion that the industrial sector remains mired in recession. The deterioration in September was driven by a sharp drop in mining and quarrying, which plummeted 22.3% year-on-year contrasting the 5.8% expansion in August, as well as the all-important manufacturing sector, which contracted 8.4% yoy (August: -2.6% yoy). However, water supply was the only sub-category to register an improvement (August: +2.5% yoy, September: +3.5% yoy). Despite the monthly reading, the trend continues to improve, as the annual average variation in industrial production inched up from minus 6.2% in August to minus 6.1% in September.
Industrial production plunged in September
November 9, 2010
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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.).