Greece Industry


Greece: Industrial production falls to three-month low

June 9, 2015

In April, industrial production expanded a working-day adjusted 0.4% compared to the same month last year, which was notably below the 5.3% increase tallied in March and marked a three-month low. March’s figure had represented the largest expansion since November 2007. April’s decrease reflected an almost across-the-board deterioration, with only mining and quarrying improving compared to the previous month.

Industrial output in April fell 3.2% over the previous month in seasonally-adjusted terms, which contrasted March’s 3.1% increase. Annual average variation in industrial production rose from minus 1.0% in March to minus 0.6% in April.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.3% in 2015, which is up 0.4 percentage points from last month’s forecast. In 2016, the panel sees industrial production increasing 1.6%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry April 2015

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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