Greece Industry May 2016


Greece: Industrial production slows in May

July 11, 2016

In May, industrial production rose a working-day adjusted 2.9% compared to the same month last year, which came in below the revised 3.3% expansion tallied in April (previously reported: +2.8% year-on-year). May’s slowdown reflected a deterioration in electricity and water supply, which offset an improvement in manufacturing. .

Meanwhile, industrial output fell 1.9% over the previous month in seasonally-adjusted terms, which contrasted April’s revised 3.7% increase (previously reported: +3.2% month-on-month). The trend pointed upward in May as annual average growth in industrial production rose from 0.3% to 0.9%.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.9% in 2016, which is unchanged from last month’s forecast. In 2017, the panel sees industrial production growing 2.0%.

Author:, Economist

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Greece Industry Chart

Greece Industry May 2016 1

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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