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