Greece Industry June 2017

Greece

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%.

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:, Economist

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Greece Industry June 2017 0

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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