Greece Industry February 2016


Greece: Industrial production falls to eight-month low in February

April 8, 2016

In February, industrial production fell a working-day adjusted 3.0% compared to the same month last year, which contrasted the revised 4.5% expansion tallied in January (previously reported: +5.5% year-on-year) and marked the largest fall in eight months. February’s downturn reflected a deteriorations in manufacturing, electricity and water supply.

Meanwhile, industrial output rose 1.3% over the previous month in seasonally-adjusted terms, which contrasted January’s revised 6.1% drop (previously reported: -5.2% month-on-month). However, the trend pointed downward in February as annual average growth in industrial production fell from 1.2% to 0.8%.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.6% in 2016, which is up 1.6 percentage points from last month’s forecast. In 2017, the panel sees industrial production growing 1.0%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry February 2016

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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