Greece: Industrial output records largest contraction in six months in October
Industrial output decreased 2.5% year on year in working-day adjusted terms in October, which was a deterioration from September’s 1.2% decrease. October’s figure marked the worst reading since April. Looking at the details of the release, the drop in electricity supply output worsened markedly. That said, manufacturing output gained steam in October.
On a monthly basis, factory output increased 0.6% in seasonally adjusted terms in October, rebounding from Septembers 3.2% fall. Meanwhile, annual average industrial production growth fell to 4.0% in October (September: +5.5%). This signals a worsening trend in the industrial sector.