Greece Industrial production July 2021

Greece

Greece: Industrial output growth cools in July

September 10, 2021

Industrial output rose 7.8% year-on-year in working-day adjusted terms in July, which followed June's 8.9% increase. July's slowdown was partly driven by a deterioration in manufacturing output. Meanwhile, mining and quarrying output tumbled over the prior month.

On a seasonally-adjusted monthly basis, factory output rose 2.5% in July (June: -0.9% s.a. mom). Meanwhile, annual average industrial production growth rose to 5.7% in July (June: +5.0%), signaling an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists see industrial production growing 6.4% in 2021, which is up 0.4 percentage points from last month’s forecast. In 2022, the panel sees industrial production growth softening to 3.5%.


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Greece Industry July 2021 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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