Greece Industry March 2019


Greece: Industrial production falls at sharpest pace in three years in March

May 10, 2019

Industrial production dipped 2.7% year-on-year in working-day adjusted terms in March, contrasting February’s revised 3.0% expansion (previously reported: +2.3% year-on-year) and marking the sharpest decline in three years. March’s fall was largely driven by the contraction of the manufacturing, energy, and water supply sectors.

On a month-on-month basis, industrial production grew a soft 0.2% in March, following the strong 3.6% increase logged in February. Meanwhile, annual average growth in industrial production edged down from 1.9% in February to 1.6% in March.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.7% in 2019, which is up 0.2 percentage points from last month’s forecast. In 2020, the panel sees industrial production growing 1.7%.

Author:, Economist

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Greece Industry Chart

Greece Industry March 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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