Greece Industrial production April 2020


Greece: Industrial output crumbles at fastest pace in over eight years in April

June 5, 2020

Industrial output plunged 9.9% year-on-year in working-day adjusted terms in April (March: +0.4% year-on-year) as Covid-19 containment measures weighed on activity. April’s drop was the steepest since December 2011.

Looking at the details of the release, manufacturing and mining output collapsed, while electricity production declined at a more moderate pace. Conversely, water output grew in the month.

On a working-day adjusted monthly basis, industrial production plummeted 11.0% in April (March: +5.5% month-on-month). Meanwhile, the trend deteriorated, with the annual average variation in industrial production coming in at minus 2.5% in April, down from March's minus 1.4%.

FocusEconomics Consensus Forecast panelists see industrial production contracting 8.5% in 2020, which is up 0.4 percentage points from last month’s forecast. In 2021, the panel sees industrial production growing 4.8%.

Author:, Economist

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Greece Industrial production Chart

Greece Industry April 20 20

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

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