Greece: Industrial production continues to deteriorate
January 9, 2014
In November 2013, industrial production fell a working-day adjusted 6.1% over the same month of the previous year. The fall was below the revised 4.7% decrease observed in October (previously reported: -5.2% year-on-year). November's figure reflects a broad-based deterioration, with mining and quarrying as well as electricity marking the largest decreases compared to the previous month.
As a result of the annual reading, annual average variation in industrial production fell from minus 3.5% in October to minus 3.7% in November.
FocusEconomics Consensus Forecast panelists see industrial production rising 0.6% in 2014, which is unchanged from last month's forecast. In 2015, the panel sees industrial production increasing 1.8%.
Author: Dirina Mançellari, Senior Economist