Greece Industry


Greece: Industrial production records positive growth in November for the first time since June 2013

January 9, 2015

In November, industrial production increased a working-day adjusted 1.3% compared to the same month of the previous year, which contrasted the 0.7% decline tallied in October and marked the first month since June 2013 in which annual positive growth was recorded. November’s increase reflected gains in all of the sub-components that comprise the index with the exception of electricity production, which decreased sharply.

Industrial output declined 2.7% over the previous month in seasonally-adjusted terms in November, which was an improvement compared to the 3.5% contraction tallied in October.

Since the annual contraction was less pronounced in November than in the previous month, the annual average variation in industrial production increased from minus 3.2% in October to minus 2.5% in November.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.8% in 2015, which is down 0.3 percentage points from last month’s forecast. In 2016, the panel sees industrial production increasing 1.9%.

Author:, Economist

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Greece Industry Chart

Greece Industry November 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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