Greece Industry


Greece: Industrial production records largest expansion since November 2007

May 11, 2015

In March, industrial production expanded a working-day adjusted 5.0% compared to the same month last year, which was notably above the 1.9% increase tallied in February. In addition, March’s figure represented the largest expansion since November 2007. March’s gain reflected an almost across-the-board improvement, with only water supply production deteriorating compared to the previous month.

Industrial output in March rose 2.8% over the previous month in seasonally-adjusted terms, which was below February’s 9.9% increase. February’s result had marked the largest expansion in over a year-and-a-half. Annual average variation in industrial production rose from minus 1.8% in February to minus 1.0% in March.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.7% in 2015, which is down 0.6 percentage points from last month’s forecast. In 2016, the panel sees industrial production increasing 1.0%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry March 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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