Greece Industry January 2017


Greece: Industrial production soars in January

March 10, 2017

Industrial production expanded a working-day adjusted 7.2% in January compared to the same month of last year, which was above December’s revised 2.5% rise (previously reported: +2.2% year-on-year). The pick-up was driven by booming electricity production and a rebound in manufacturing activity. However, mining and quarrying output fell to contraction in January.

Meanwhile, industrial output contracted 2.5% in January over the previous month in working-day adjusted terms, which contrasted December’s 2.2% decrease. Annual average growth in industrial production rose from December’s 2.5% to 2.8%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.6% in 2017, which is down 0.3 percentage points from last month’s forecast. In 2018, the panel sees industrial production growing 1.9%.

Author: Angela Bouzanis, Lead Economist

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Greece Industry Chart

Greece Industry January 2017

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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