Greece Industrial production April 2021


Greece: Industrial output growth hits all-time high in April

June 10, 2021

Industrial output expanded 22.5% year-on-year in April (March: +5.7% yoy). April's print marked the best result on record, but a low base effect flattered the reading. April's upturn was broad-based: Manufacturing, and mining and quarrying output, as well as water and electricity supply production all gained steam over the previous month.

On a seasonally-adjusted monthly basis, industrial output increased 4.4% in April, which was better than March’s 2.1% expansion. Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at plus 2.2% in April, contrasting March's minus 0.6%.

FocusEconomics Consensus Forecast panelists see industrial production growing 4.1% in 2021, which is down 0.7 percentage points from last month’s forecast. In 2022, the panel sees industrial production growth softening to 3.3%.


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Greece Industrial production Chart

Greece Industry April 2021

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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