Greece Industry January 2018

Greece

Greece: Industrial production falls at sharpest pace in nearly two years in January

March 12, 2018

Industrial production contracted a working-day-adjusted 1.7% in January compared to the same month last year, contrasting December’s revised 1.3% growth (previously reported: +0.2% year-on-year). January’s result marked the worst reading since March 2016. The downturn was driven by plummeting electricity production. In addition, water supply output also fell in January.

Industrial output plunged 5.5% in January over the previous month in working-day adjusted terms, significantly contrasting December’s 1.5% expansion. Annual average growth in industrial production fell from December’s 4.6% to 3.9% in January.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.3% in 2018, which is down 0.1 percentage points from last month’s forecast. In 2019, the panel sees industrial production growing 2.2%.


Author: Angela Bouzanis, Lead Economist

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Greece Industry January 2018 0

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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