Greece Industry


Greece: Industrial production slows in September

November 9, 2015

In September, industrial production rose a working-day adjusted 2.8% compared to the same month last year, which was below the revised 4.1% expansion tallied in August (previously reported: +4.5% year-on-year). August’s reading had marked a five-month high. September’s moderation reflected slower growth in manufacturing production and electricity production.

Industrial output in September rose 5.7% over the previous month in seasonally-adjusted terms, which notably contrasted August’s revised 9.0% decrease (previously reported: -8.7% month-on-month). Annual average variation in industrial production swung from minus 0.3% in August to plus 0.3% in September.

FocusEconomics Consensus Forecast panelists see industrial production contracting 1.2% in 2015, which is up 0.7 percentage points from last month’s forecast. In 2016, the panel sees industrial production decreasing 1.7%, which is down 0.3 percentage points from the previous month’s estimate.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry September 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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