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.
Author: Javier Colato, Economist