Greece Industry February 2017


Greece: Industrial production surges in February

April 10, 2017

Industrial production in Greece expanded a working-day adjusted 10.8% in February compared to the same month of last year, which was above January’s revised 7.1% rise (previously reported: +7.2% year-on-year) and marked a multi-year high. The pick-up was driven by booming electricity production and stronger growth in the manufacturing sector. In addition, mining and quarrying rebounded from the previous month’s contraction.

Meanwhile, industrial output expanded 5.9% in February over the previous month in working-day adjusted terms, which contrasted January’s 2.6% decrease. Annual average growth in industrial production rose from January’s 2.8% to 3.9%.

FocusEconomics Consensus Forecast panelists see industrial production expanding 1.8% in 2017, which is up 0.2 percentage points from last month’s forecast. In 2018, the panel sees industrial production growing 1.9%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry February 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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