Greece Industrial production September 2021

Greece

Greece: Industrial output growth cools slightly in September

November 10, 2021

Industrial output grew 9.7% year-on-year in working-day adjusted terms in September, cooling marginally from August’s 10.0% increase. Looking at the details of the release, September’s moderation was largely owed to lower electricity supply and water supply. That said, mining and quarrying output bounced back to growth in September, while manufacturing production rose at a sharper rate.

On a monthly basis, industrial production rose 1.3% in seasonally-adjusted terms in September, coming above August’s 0.5% expansion. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 8.0 in September, up from August’s 6.9%.

FocusEconomics Consensus Forecast panelists see industrial production growing 3.6% in 2022, which is down 0.4 percentage points from last month’s forecast. In 2023, the panel sees industrial production growth softening to 2.2%.


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Greece Industry September 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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