Greece Industry May 2017


Greece: Industrial production growth accelerates in May

July 10, 2017

Industrial production expanded a strong working-day adjusted 5.4% in May compared to the same month of last year, which was notably above April’s revised 0.8% growth (previously reported: +1.0% year-on-year). The healthy figure was driven by booming mining and quarrying production as well as strong growth in manufacturing output and electricity production.

Meanwhile, industrial output expanded 2.6% in May over the previous month in working-day adjusted terms, which contrasted April’s 4.9% fall. Annual average growth in industrial production rose from April’s 4.8% to 5.0%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 3.7% in 2017, which is up 0.6 percentage points from last month’s forecast. In 2018, the panel sees industrial production growing 2.5%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry May 2017

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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