Greece Industry


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.

FocusEconomics Consensus Forecast panelists see industrial production rising 0.9% in 2014, which is unchanged from last month’s forecast. In 2015, the panel sees industrial production increasing 2.3%.

Author:, Senior Economist

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Greece Industry Chart

Greece Industry July 2014

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (EL.STAT) and FocusEconomics calculations.

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