Greece: Industrial production contracts most in eight months
July 10, 2013
In May, industrial production fell a working-day adjusted 4.6% over the same month last year, which contrasted the revised 0.3% increase recorded in April (preciously reported: -1.8% year-on-year). The monthly print, the lowest in eight months, reflects contractions all across the board.
As a result, annual average variation in industrial production inched down to minus 1.9% in May from minus 1.8% in April, which had marked the highest reading in more than four years.
FocusEconomics Consensus Forecast panellists see industrial production declining 2.5% in 2013, which is down 0.1 percentage points from last month's forecast. In 2014, the panel sees industrial production contracting 0.4%.