Greece Industry


Industrial production remains deeply mired in the red

In March, industrial production fell a working-day adjusted 8.5% over the same month last year, which followed an 8.3% contraction in February. The deterioration observed in March was entirely due to a steep decline in electricity output, while the remaining three main sub-components contracted at a softer pace. Despite the March drop, the trend improved marginally, with annual average variation in industrial production inching up from minus 8.7% in February to minus 8.6% in March.

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Greece Industry Chart

Greece Industry March 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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