Greece: Industrial production swings back to contraction
February 9, 2015
In December, industrial production contracted a working-day adjusted 3.8% compared to the same month of the previous year, which contrasted the revised 2.5% expansion tallied in November (previously reported: +1.3%). November’s result had marked the first expansion in industrial production since June 2013. December’s fall reflected a deterioration in all of the sub-components that comprise the index with the exception of water supply.
Industrial output declined 2.7% over the previous month in seasonally-adjusted terms in December, which was below the revised 1.9% fall in November (previously reported: -2.7%). In addition, annual average variation in industrial production decreased from minus 2.4 in November to minus 2.6 in December.