Greece: Decline in industrial activity softens in November
Industrial output dropped 0.9% year on year in working-day adjusted terms in November, which was above October’s 2.7% decrease. November’s figure was driven by faster growth in manufacturing output and a rebound in mining and quarrying production. Meanwhile, electricity supply output dropped at a softer rate.
On a seasonally adjusted monthly basis, industrial output rose at a faster rate of 1.0% in November (October: +0.5% mom), the best result since June. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 3.2%, down from October’s 4.0%.