Greece: Industrial production decelerates in March
May 9, 2014
In March, industrial production contracted a working-day adjusted 3.0% over the same month last year, which contrasted the 1.7% expansion tallied in February. The figure marked the sharpest contraction in four months and was driven by a broad-based deterioration in the sub-components of the index. On a monthly basis, industrial production added 0.24%, which was a deterioration compared to the 3.91% increase observed in the previous month.
As a result of March's reading, annual average variation in industrial production fell from minus 2.6% in February to minus 2.7%.
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