Greece Industrial production November 2020

Greece

Greece: Industrial output rebounds jumping to nearly four-year high in November

January 8, 2021

Industrial production rebounded solidly in November, expanding 8.6% in annual terms (October: -3.5% yoy) and logging the sharpest growth in nearly four years. November’s upturn reflected a broad-based improved, as manufacturing, mining and quarrying, and electricity supply output, all rebounded, while water supply output growth picked up.

Accordingly, the trend improved, with the annual average variation of industrial production coming in at minus 2.7% in November, up from October’s minus 4.2%. Lastly, on a seasonally-adjusted monthly basis, industrial output jumped 6.2% in November, swinging up from October’s 3.0% drop.

FocusEconomics Consensus Forecast panelists see industrial production growing 3.8% in 2021, which is down 0.1 percentage points from last month’s forecast. In 2022, the panel sees industrial production growth softening to 3.6%.


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Greece Industry November 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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