Greece Industry May 2018


Greece: Industrial production slows in May

July 10, 2018

Industrial production expanded a working-day adjusted 1.0% annually in May, decelerating from April’s revised 2.0% expansion (previously reported: +1.9% year-on-year). The moderation in output came on the back of softer growth in all sectors except for the mining and quarrying sector, which recovered from the previous month.

On a month-on-month basis, however, industrial output in May rebounded 3.2% in working-day adjusted terms from a revised 5.2% contraction in April (previously reported: -5.3% month-on-month). Meanwhile, annual average growth in industrial production fell to a two-year low of 1.7% in May from 2.2% in April.

FocusEconomics Consensus Forecast panelists see industrial production expanding 2.4% in 2018, which is up 0.2 percentage points from last month’s forecast. In 2019, the panel sees industrial production growing 2.5%.


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Greece Industry Chart

Greece Industry May 2018

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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