Greece: Industrial production picks up in December
February 10, 2014
In December, industrial production rose a working-day adjusted 0.5% over the same month of the previous year. The increase marked an improvement over the revised 5.4% decrease recorded in November (previously reported: -6.1% year-on-year). December's figure reflects a broad-based improvement, with mining and quarrying as well as electricity recording the most significant improvements compared to the previous month.
As a result of December's reading, annual average variation in industrial production inched up from minus 3.7% in November to minus 3.6% in December.
FocusEconomics Consensus Forecast panelists see industrial production rising 0.6% in 2014, which is unchanged from last month's forecast. In 2015, the panel sees industrial production increasing 1.8%.
Author: Dirina Mançellari, Senior Economist