Greece Industrial production December 2020


Greece: Industrial output growth moderates in December

February 9, 2021

Industrial production grew 3.3% on an annual basis in December 2020, easing notably from November’s 8.9% jump. December’s softer expansion was largely due to significantly milder growth in manufacturing output. Moreover, mining and quarrying production swung to contraction.

Meanwhile, the trend improved markedly, with the annual average variation of industrial production coming in at minus 2.0% in December, up from November’s minus 2.6%. Lastly, on a seasonally-adjusted monthly basis, industrial output slid 0.6% in December, contrasting November’s 6.5% rise.

FocusEconomics Consensus Forecast panelists see industrial production growing 3.3% in 2021, which is down 0.5 percentage points from last month’s forecast. In 2022, the panel sees industrial production growth softening to 4.4%.


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Greece Industrial production Chart

Greece Industry December 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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