Greece Industry November 2016


Greece: Industrial production loses steam in November

January 10, 2017

Industrial production expanded a working-day adjusted 2.3% in November compared to the same month of the previous year, which was a deceleration from October’s revised 7.0% rise (previously reported: +6.8% year-on-year). The slowdown was driven by a deceleration in manufacturing growth and a more pronounced contraction in mining and quarrying activity. In addition, electricity output and water supply growth eased.

Meanwhile, industrial output fell 1.6% in November over the previous month in working-day adjusted terms, which followed October’s revised 1.5% decrease (previously reported: -1.7% month-on-month). Annual average growth in industrial production was stable at October’s 2.7%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.6% in 2017, which is down 0.3 percentage points from last month’s forecast. In 2018, the panel sees industrial production growing 2.1%.

Author:, Economist

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Greece Industry Chart

Greece Industry November 2016

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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