Greece: Contraction in industrial production moderates in July
September 9, 2014
In July, industrial production fell a working-day adjusted 2.1% over the same month last year, which was well above the revised 5.4% drop recorded in June (previously reported: -6.7% year-on-year). The decrease was driven by a contraction in mining and quarrying as well as in electricity. On the other hand, manufacturing and water supply recorded improvements over the previous month.
As a result, annual average variation in industrial production rose from minus 3.8% in June to minus 3.4%, thus reaching the highest value since May.
Author: Dirina Mançellari, Senior Economist