Greece: Industrial production plummets in June
August 8, 2014
In June, industrial production fell a working-day adjusted 6.7% over the same month last year, which was well below the 0.9% contraction recorded in May. The figure marked the fastest decrease since July 2013. The decrease was driven by a contraction in all of the components that comprise the index. Mining and quarrying as well as manufacturing recorded the biggest deteriorations compared to the previous month.
As a result of June’s decrease, annual average variation in industrial production fell from minus 3.3% in May to minus 4.1%, thus reaching the biggest drop since September 2012.
Author: Dirina Mançellari, Senior Economist