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%.
Author: Christopher Mc Innes, Economist