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.
Author: Cecilia Simkievich, Economist