Greece Industrial production November 2021

Greece

Greece: Industrial output growth slows in November

January 10, 2022

Industrial output expanded 8.0% in annual and working-day adjusted terms in November, slowing down from the 16.5% increase tallied in the previous month. November’s slowdown was largely attributed to a weaker increase in manufacturing output, as well as in electricity production. Meanwhile, mining and quarrying output rebounded over the previous month.

On a monthly basis, industrial production tumbled 1.2% in seasonally-adjusted terms in November, contrasting October’s 2.7% rise. Meanwhile, the trend deteriorated marginally, with the annual average growth of industrial production coming in at 9.5% in November, down from 9.6% in October.

FocusEconomics Consensus Forecast panelists see industrial production growing 3.7% in 2022, which is up 0.3 percentage points from last month’s forecast. In 2023, the panel sees industrial production growth softening to 2.5%.


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Greece Industry November 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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