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%.
Author: Oliver Reynolds, Economist