Greece Industrial production June 2020


Greece: Industrial activity contracts less severely in June

August 7, 2020

Industrial output fell 4.9% year-on-year in working-day adjusted terms in June, which was a less pronounced contraction than May's 7.8% decrease. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.4% in June, down from May's minus 3.0% reading.

June’s weaker drop was primarily driven by a markedly softer decline in manufacturing production. In contrast, output in the mining and quarrying, and electricity supply sectors fell more sharply than in May.

On a working-day adjusted monthly basis, industrial output rose jumped 7.2% in June (May: +2.9% mom).

FocusEconomics Consensus Forecast panelists see industrial production contracting 7.4% in 2020, which is down 0.5 percentage points from last month’s forecast. In 2021, the panel sees industrial production growing 5.4%.

Author:, Economist

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Greece Industrial production Chart

Greece Industry June 20 20

Note: Working-day adjusted, year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (ELSTAT) and FocusEconomics calculations.

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