Greece Industry May 2019


Greece: Industrial production falls at sharpest pace in over three years in May

July 10, 2019

Industrial production declined 1.2% year-on-year in working-day adjusted terms in May, marking the sharpest fall in over three years and contrasting April’s revised 1.7% increase (previously reported: -0.8% year-on-year). May’s downturn was largely driven by a contraction in the mining and quarrying, electricity, and water supply sectors.

On a month-on-month basis, industrial production rose 0.4% in May, rebounding from the 1.8% dip logged in April. Meanwhile, annual average growth in industrial production edged down to 1.8% in May from 2.0% in April.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.4% in 2019, which is down 0.4 percentage points from last month’s forecast. In 2020, the panel sees industrial production growing 1.6%.

Author:, Economist

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Greece Industry Chart

Greece Industry May 2019

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Hellenic Statistical Authority (ELSTAT) and FocusEconomics calculations.

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