Greece: Industrial production declines less sharply in September
November 10, 2011
In September, industrial production declined 1.7% over the same month last year, following the 11.4% contraction in August. The print marks the best reading since August 2010 but simultaneously represents the 41st month of contracting activity in the industrial sector. Manufacturing output fell 1.7% year on year in September (August: -11.1% yoy) while mining and quarrying as well as water supply recorded increases. As a result of the less pronounced contraction, the trend is gradually improving, with annual average variation in industrial production stepping up from minus 8.0% in August to minus 7.3% in September.