Greece Industrial production January 2021


Greece: Industrial output growth moderates marginally in January

March 10, 2021

Industrial production grew 3.4% in January, easing marginally from December’s 3.5% expansion. January’s softer increase was largely driven by weaker growth in electricity supply output. Meanwhile, mining and quarrying output bounced back solidly.

On a seasonally-adjusted monthly basis, factory output rebounded, growing 3.2% in January (December: -0.4% s.a. mom) logging the best result in six months. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 1.7%, up from December's minus 2.0%.

FocusEconomics Consensus Forecast panelists see industrial production growing 4.1% in 2021, which is up 0.8 percentage points from last month’s forecast. In 2022, the panel sees industrial production growth softening to 4.7%.


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Greece Industrial production Chart

Greece Industry January 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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