Greece: Industrial production falls again in August
October 10, 2019
Industrial production declined 0.6% year-on-year in working-day adjusted terms in August, following July’s 1.7% dip which had marked the worst downturn since February 2016. August’s softer fall was mainly driven by the rebound in manufacturing output and the smaller contraction of the energy supply sector. Furthermore, larger output gains in the water supply sector compared to July also supported the headline figure.
On a month-on-month basis, industrial production plunged 12.2% in August, contrasting the solid 5.0% expansion logged in July. Meanwhile, annual average growth in industrial production held steady at July’s 1.4% in August.
Author: Javier Colato, Economist