Greece: Industrial output declines for sixth straight month in April
June 10, 2013
In April, industrial production fell a working-day adjusted 1.8% over the same month last year, which followed the 1.1% decline recorded in March. The monthly print reflects contractions in manufacturing, mining and quarrying as well as in electrical output.
Despite the April decline, the trend continues to point upwards, with annual average variation in industrial production inching up from minus 2.0% in March to minus 1.9% in April, the highest reading in more than four years.
FocusEconomics Consensus Forecast panellists see industrial production declining 2.4% in 2013, which is down 0.8 percentage points from last month's forecast. In 2014, the panel sees industrial production contracting 0.4%.