Greece: Industrial production remains deeply mired in the red
May 10, 2012
In March, industrial production fell a working-day adjusted 8.5% over the same month last year, which followed an 8.3% contraction in February. The deterioration observed in March was entirely due to a steep decline in electricity output, while the remaining three main sub-components contracted at a softer pace. Despite the March drop, the trend improved marginally, with annual average variation in industrial production inching up from minus 8.7% in February to minus 8.6% in March.