Greece Industry


Greece: Industrial production rebounds in August

October 9, 2015

In August, industrial production rose a working-day adjusted 4.5% compared to the same month last year, which contrasted the revised 1.7% decrease tallied in July (previously reported: -1.6% year-on-year) and marked a five-month high. August’s improvement reflected a rebound in manufacturing production and water supply.

Industrial output in August fell 8.7% over the previous month in seasonally-adjusted terms, which notably contrasted July’s revised 7.3% increase (previously reported: +7.5% month-on-month). Annual average variation in industrial production fell from minus 1.1% in July to minus 0.3% in August.

FocusEconomics Consensus Forecast panelists see industrial production contracting 1.9% in 2015, which is up 0.3 percentage points from last month’s forecast. In 2016, the panel sees industrial production decreasing 1.4%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry August 2015

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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