Greece Industrial production September 2022


Greece: Industrial output drops at the sharpest pace since April in September

November 10, 2022

Industrial output dropped 1.1% year on year in working-day adjusted terms in September (August: +4.4% yoy). September's figure marked the worst reading since April. Looking at the details of the release, manufacturing production slowed in September and electricity supply output swung to contraction.

Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 5.5%, down from August's 6.5% reading.

On a monthly basis, industrial production dropped 3.0% in seasonally adjusted terms in September, which was significantly below August’s 0.9% fall and marked the worst result since April.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.9% in 2023, which is up 0.2 percentage points from last month’s forecast. In 2024, the panel sees industrial production growth at 2.3%.


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Greece Industrial production Chart

Greece Industry September 2022 0

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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