Greece Industry


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.

FocusEconomics Consensus Forecast panelists see industrial production rising 0.9% in 2014, which is unchanged from last month’s forecast. In 2015, the panel sees industrial production increasing 2.3%.

Author:, Senior Economist

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Greece Industry Chart

Greece Industry June 2014

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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