Greece: Industrial production records first increase in over four years
August 9, 2012
In June, industrial production rose a working-day adjusted 0.3% over the same month last year, which contrasted the 2.2% drop observed in May (previously reported: -2.9% year-on-year) and represented, in fact, the first increase in the index since April 2008. The improvement observed in June was broad-based as three out of the four main categories recorded gains over the previous month. On the other hand, manufacturing output deteriorated markedly. As a result, the trend improved somewhat, with annual average variation in industrial production stepping up from minus 7.3% in May to minus 6.2% in June.