Greece Industry


Greece: Industrial production contracts in October

December 10, 2015

In October, industrial production fell a working-day adjusted 1.9% compared to the same month last year, which contrasted the revised 2.9% expansion tallied in September (previously reported: +2.8% year-on-year). October’s reading marked a four-month low. The contraction reflected a broad-based deterioration in the index, with all components recording contractions in October.

Industrial output in October dropped 7.8% over the previous month in seasonally-adjusted terms, which notably contrasted September’s revised 5.8% increase (previously reported: +5.7% month-on-month). Annual average variation in industrial production fell from plus 0.3% in September to plus 0.1% in October.

FocusEconomics Consensus Forecast panelists see industrial production contracting 1.1% in 2016, which is unchanged from last month’s forecast. In 2017, the panel sees industrial production growing 1.0%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry October 2015

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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