Greece: Industrial production grows at fastest pace in over a year
March 12, 2014
In January, industrial production rose a working-day adjusted 1.1% over the same month last year, which marked the fastest increase since October 2012. January's expansion, the second consecutive increase in industrial output, overshot the 0.5% rise recorded in December. The acceleration reflected an improvement in mining and quarrying as well as in manufacturing, which rebounded from a 1.6% fall in December to a 1.1% increase in January. As a result of January's reading, annual average variation in industrial production edged up from minus 3.6% in December to minus 3.1% in January. FocusEconomics Consensus Forecast panelists see industrial production rising 0.6% in 2014, which is unchanged from last month's forecast. In 2015, the panel sees industrial production increasing 1.8%.
Author: Dirina Mançellari, Senior Economist