Greece: Industrial production slows in May
Industrial production expanded a working-day adjusted 1.0% annually in May, decelerating from April’s revised 2.0% expansion (previously reported: +1.9% year-on-year). The moderation in output came on the back of softer growth in all sectors except for the mining and quarrying sector, which recovered from the previous month.
On a month-on-month basis, however, industrial output in May rebounded 3.2% in working-day adjusted terms from a revised 5.2% contraction in April (previously reported: -5.3% month-on-month). Meanwhile, annual average growth in industrial production fell to a two-year low of 1.7% in May from 2.2% in April.