Greece: Decline in industrial activity softens in August
Industrial output fell 0.5% year on year in working-day adjusted terms in August, which was a less pronounced contraction than July’s 1.9% decrease. The reading was partly due to faster growth in manufacturing output. In addition, electricity supply production dropped at a more moderate rate.
Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of 0.0% in August, down from July’s plus 0.4% reading.
On a monthly basis, factory output increased 0.9% in seasonally adjusted terms in August, which was below July’s 2.1% expansion.