Greece: Industrial production declines sharply in August
October 10, 2011
Industrial production worsened in August, after recording a 12-month high in the previous month. In August, industrial production plummeted 11.7% over the same month last year, following the 2.8% contraction in July. All sub-components contracted over last month, with manufacturing output falling a steep 11.3% (July: -2.6% year-on-year). The annual average variation in industrial production confirms the deterioration suggested by the annual reading, stepping down from minus 7.1% in July to minus 8.0% in August.