Greece Industry March 2016


Greece: Industrial production plummets in March

May 10, 2016

In March, industrial production fell a working-day adjusted 4.0% compared to the same month last year, which followed the revised 2.4% contraction tallied in February (previously reported: -3.0% year-on-year) and marked the largest fall in nine months. March’s downturn reflected deteriorations in manufacturing as well as in mining and quarrying. .

Meanwhile, industrial output rose 1.9% over the previous month in seasonally-adjusted terms, which matched February’s revised 1.9% increase (previously reported: +1.3% month-on-month). However, the trend pointed downward in March as annual average growth in industrial production fell from 0.8% to zero.

FocusEconomics Consensus Forecast panelists see industrial production contracting 1.0% in 2016, which is up 0.4 percentage points from last month’s forecast. In 2017, the panel sees industrial production growing 2.0%.

Author: Angela Bouzanis, Lead Economist

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Greece Industry Chart

Greece Industry March 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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