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Greece Industrial production November 2023

Greece: Industrial output records largest drop in over one year in November

Industrial output declined 4.1% in month-on-month seasonally adjusted terms in November, which contrasted October’s 6.1% increase. The outturn marked the worst reading since April 2022. November’s notable weakening was largely driven by a deterioration in manufacturing production, as it recorded the sharpest contraction since April. In addition, electricity supply output weakened.

On an annual basis, industrial output grew 3.1% in November, which was significantly below October’s 10.2% expansion. Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at 1.7%, up from October’s 1.4% reading.

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