Greece: Industrial production growth moderates in June
August 8, 2017
Industrial production expanded a working-day-adjusted 1.6% in June compared to the same month of last year, which was significantly below May’s revised 6.3% growth (previously reported: +5.4% year-on-year). Regardless of the softer print, June’s reading marked the ninth consecutive month of consistent expansion following several years of volatile output. Growth in June was driven by increased manufacturing production, although eased by a decline in mining production.
Industrial output expanded 4.6% in June over the previous month in working-day adjusted terms, which was up from May’s 3.5% growth. However, annual average growth in industrial production fell from May’s 5.1% to 4.5%.
Author: Lindsey Ice, Economist