Greece: Industrial output contracts for fourth consecutive month in January
Industrial production dipped 1.2% year-on-year in working-day adjusted terms in January, following December’s revised 4.2% drop (previously reported: -4.5% year-on-year) and marking the fourth consecutive month of decline. January’s softer downturn was mainly attributable to a notable pick-up in manufacturing, and mining and quarrying output. Moreover, electricity supply fell at a softer pace compared to December. Meanwhile, water output swung to contraction after it had rebounded in the previous month.
On a month-on-month and working-day adjusted basis, industrial production slid 3.3%, contrasting the 6.6% increase logged in December. Meanwhile, the annual average variation in industrial production dropped to minus 1.2% from minus 0.7% in the previous month.