Greece Industrial production April 2022

Greece

Greece: Industrial output contracts at sharpest pace since June 2020 in April

June 10, 2022

Industrial output declined 4.5% year on year in working-day adjusted terms in April, which contrasted March's 8.1% increase. April's figure marked the sharpest fall since June 2020. April's weakening was partly driven by a deterioration in manufacturing and electricity supply output.

On a monthly basis, factory output dived 7.5% in seasonally-adjusted terms in April, contrasting March’s 5.3% expansion and marking the worst result since April 2020. Meanwhile, the industrial sector trend pointed down, as the annual average growth of industrial production came in at 7.5% in April, down from March's 9.8% reading.

FocusEconomics Consensus Forecast panelists see industrial production expanding 3.1% in 2022, which is up 0.3 percentage points from last month’s forecast. In 2023, the panel sees industrial production growth at 2.7%.


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