The coast of Greece

Greece Industry December 2019

Greece: Industrial output plunges again in December

Industrial production declined 4.5% year-on-year in working-day adjusted terms in the final month of 2019, following November’s revised 9.0% plunge (previously reported: -8.1% year-on-year) which had marked the sharpest fall since December 2011. December’s downturn was driven by another contraction of the electricity supply, and mining and quarrying sectors. Meanwhile, both manufacturing and water output rebounded, albeit modestly, compared to the previous month—cushioning the overall drop.

On a month-on-month and working-day adjusted basis, industrial production increased 5.5% in December, contrasting the 5.5% dive logged in November. Meanwhile, the annual average variation in industrial production dropped to a 0.6% contraction from flat growth in the previous month.

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