Greece Industry


Greece: Industrial production records steepest drop in eight months

July 10, 2015

In May, industrial production fell a working-day adjusted 4.0% compared to the same month last year, which contrasted the revised 1.0% increase tallied in April (previously reported: +0.4% year-on-year) and marked an eight-month low. May’s decrease reflected an across-the-board deterioration.

Industrial output in May fell 1.7% over the previous month in seasonally-adjusted terms, which followed April’s revised 2.6% decrease (previously reported: -3.2% month-on-month). Annual average variation in industrial production fell from minus 0.6% in April to minus 0.9% in May.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.3% in 2015, which is up 0.4 percentage points from last month’s forecast. In 2016, the panel sees industrial production increasing 1.6%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry May 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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