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Greece Industrial production May 2024

Greece: Industrial activity falls at sharpest rate since November 2023 in May

Industrial output fell 3.4% in month-on-month seasonally adjusted terms in May, which contrasted April’s 8.0% increase. May’s outturn marked the worst reading since November 2023. Looking at the details of the release, manufacturing production shrank in May, and electricity supply output also increased at a softer pace.

On an annual basis, industrial output rose at a more moderate pace of 6.7% in May (April: +11.7% yoy). Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at 3.5%, up from April’s 3.2%.

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