Greece: Decline in industrial activity softens in July
September 9, 2020
Industrial output fell 0.2% year-on-year in working-day adjusted terms in July, which was a markedly softer drop than June’s 4.9% contraction. July’s weaker fall was primarily driven by a rebound in mining and quarrying output, as well as an improvement in manufacturing production. In addition, output in the electricity supply sector fell at a markedly softer pace than in June.
Accordingly, the trend pointed up, with the annual average variation of industrial production coming in at minus 3.2% in July, slightly above June’s minus 3.4% reading. Lastly, on a working-day adjusted monthly basis, industrial output rose 10.3% in July (June: +7.6% mom).