Greece Industrial production March 2022


Greece: Industrial output growth rises in March

May 10, 2022

Industrial output expanded 7.9% year-on-year in working-day adjusted terms in March (February: +4.8% yoy). Looking at the details of the release, manufacturing production expanded at a softer rate in March, while electricity supply output accelerated.

On a monthly basis, industrial production rose 5.1% in seasonally-adjusted terms in March, notably above February’s 2.1% expansion and marking the best result since November 2020. Meanwhile, annual average industrial production growth rose to 9.8% in March (February: +9.6%). This signals an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.8% in 2022, which is down 1.8 percentage points from last month’s forecast. In 2023, the panel sees industrial production growth at 2.4%.


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Greece Industrial production Chart

Greece Industry March 2022

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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