Greece Industry


Industrial production rises again in October

In October, industrial production expanded a working-day adjusted 2.0% over the same month the year before, which represented the second increase in three months. The print contrasted the revised 7.0% drop observed in September (previously reported: -7.3% year-on-year), which had marked the sharpest fall in six months.

The improvement was broad-based, as all the main categories recorded gains over the previous month. In particular, strong increase was seen in mining and quarrying, while manufacturing output rebounded.

As a result, the trend now points upwards, with annual average variation in industrial production stepping up from minus 5.9% in September to minus 4.7% in October.

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Greece Industry Chart

Greece Industry October 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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