Greece: Industrial output plummets in November
Industrial production plummeted 8.1% year-on-year in working-day adjusted terms in November, contrasting October’s 0.1% uptick and marking the sharpest fall since December 2011. November’s downturn was driven by a broad-based contraction across all components. Manufacturing and water output shrank after expanding in the previous month. Moreover, activity in the electricity supply, and mining and quarrying sectors declined yet again, which has occurred for more than six months running.
On a month-on-month and working-day adjusted basis, industrial production plunged 5.0% in November, following the 7.6% dive logged in October. Meanwhile, annual average growth in industrial production slid to 0.3% from 1.4% in the previous month.