Greece Industry


Greece: Industrial production swings back to expansion

April 9, 2015

In February, industrial production expanded a working-day adjusted 1.9% compared to the same month last year, which contrasted the revised 0.2% contraction tallied in January (previously reported: +0.1% year-on-year). February’s gain reflected an improvement in manufacturing, water supply and electricity. In contrast, mining and quarrying deteriorated in February.

Industrial output rose 9.9% over the previous month in seasonally-adjusted terms in February, which contrasted the 4.9% fall in January. February’s result marked the largest expansion in over a year-and-a-half. Annual average variation in industrial production rose from minus 1.9% in January to minus 1.8% in February.

FocusEconomics Consensus Forecast panelists see industrial production contracting 0.3% in 2015, which is down 0.5 percentage points from last month’s forecast. In 2016, the panel sees industrial production increasing 1.7%.

Author: Angela Bouzanis, Senior Economist

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Greece Industry Chart

Greece Industry February 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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