Greece Industry December 2016


Greece: Industrial production accelerates in December

February 9, 2017

Industrial production expanded a working-day adjusted 2.2% in December compared to the same month of the previous year, which was above November’s revised 2.0% rise (previously reported: +2.3% year-on-year). The pick-up was driven by booming electricity production and a rebound in mining and quarrying activity. However, manufacturing output fell at the fastest pace seen in nine months.

Meanwhile, industrial output expanded 2.0% in December over the previous month in working-day adjusted terms, which contrasted November’s revised 1.9% decrease (previously reported: -1.6% month-on-month). Annual average growth in industrial production fell from November’s 2.7% to 2.3%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.9% in 2017, which is up 0.3 percentage points from last month’s forecast. In 2018, the panel sees industrial production growing 2.3%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry December 2016

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (EL.STAT) and FocusEconomics calculations.

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