Greece: Industrial production contracts in August
October 10, 2013
In August, industrial production decreased a working-day adjusted 7.1% over the same month last year, which was above the 8.1% contraction recorded in July. On a monthly basis, industrial production fell 10.5%, marking a significant deterioration over the 0.1% rise recorded in July.
As a result of the annual reading, annual average variation in industrial production fell from minus 2.2% in July to minus 3.0% in August.
FocusEconomics Consensus Forecast panelists see industrial production declining 2.5% in 2013, which is down 0.1 percentage points from last month's forecast. In 2014, the panel sees industrial production contracting 0.4%, which is up 0.7 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist