Greece Industrial production October 2020


Greece: Industrial output drops more sharply in October

December 10, 2020

Industrial output declined 3.7% year-on-year in working-day adjusted terms in October, dropping at a steeper pace than September’s 2.1% decline. October’s more pronounced drop was largely attributed to a swing into contraction of electricity supply output.

Similarly, the trend deteriorated further, with the annual average variation of industrial production coming in at minus 4.2% in October, down from September’s minus 4.0% reading. Lastly, on a seasonally-adjusted monthly basis, industrial output dived 3.1% in October, contrasting September’s 1.5% rise.

FocusEconomics Consensus Forecast panelists see industrial production growing 3.9% in 2021, which is unchanged from last month’s forecast. In 2022, the panel sees industrial production growth softening to 3.0%.


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Greece Industrial production Chart

Greece Industry October 20 20 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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