Greece Industrial production October 2021


Greece: Industrial output growth hits five-month high in October

December 10, 2021

Industrial output expanded a robust 16.5% in annual and working-day adjusted terms in October, accelerating from September’s 9.9% increase and logging the highest result in five months. Looking at the details of the press release, the upturn was largely attributed to a stronger expansion in manufacturing production as well as electricity supply and water supply output.

On a monthly basis, industrial production rose 2.7% in seasonally-adjusted terms in October, coming above September’s 1.5% expansion. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at 9.6% in October from 8.0% in September.

FocusEconomics Consensus Forecast panelists see industrial production growing 3.4% in 2022, which is down 0.2 percentage points from last month’s forecast. In 2023, the panel sees industrial production growth softening to 2.5%.


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Greece Industrial production Chart

Greece Industry October 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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