Greece: Industrial output drops at sharpest rate since April 2022 in June
Industrial output slid 3.6% year on year in working-day adjusted terms in June (May: +1.9% yoy). June’s figure marked the worst reading since April 2022. June’s reading was partly due to a deterioration in manufacturing output, as it expanded at the slowest pace since April 2022. In addition, both mining production and electricity supply fell at the tail-end of Q2.
On a seasonally adjusted monthly basis, factory output fell at a sharper rate of 1.5% in June (May: -0.3% mom). Meanwhile, annual average industrial production growth fell to 1.0% in June (May: +2.2%). This signals a worsening trend in the industrial sector.