Greece Industry March 2020


Greece: Industrial output rebounds in March

May 11, 2020

Industrial output increased 0.6% year-on-year in working-day adjusted terms in March (February: -3.2% year-on-year), breaking a streak of five consecutive months of contraction.

The upturn was primarily driven by a rebound in manufacturing production. Meanwhile, electricity supply output fell for the eleventh successive month in March.

On a working-day adjusted monthly basis, industrial production rose 5.8% in March (February: +1.4% month-on-month). Meanwhile, the trend improved slightly, with the annual average variation in industrial production coming in at minus 1.4% in March, up from February's minus 1.5%.

FocusEconomics Consensus Forecast panelists see industrial production contracting 8.9% in 2020, which is down 2.9 percentage points from last month’s forecast. In 2021, the panel sees industrial production growing 4.6%.

Author:, Economist

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Greece Industry Chart

Greece Industry March 20 20 0

Note: Working-day adjusted, year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (ELSTAT) and FocusEconomics calculations.

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