Downward Trend In Greek Industrial Production Continues

Downward Trend In Greek Industrial Production Continues




Greek industrial production continued its downward trend in February amid stringent austerity and weak domestic demand, the latest figures released by the Hellenic Statistical Authority showed Monday.
The working-day adjusted production index for the industrial sector fell 8.3 percent year-on-year in February, faster than 6 percent fall in the preceding month. However, on a monthly basis, the index gained 3 percent following 1.7 percent drop in January.
Compared to last year, manufacturing production plunged 10.6 percent, while output of mining and quarrying industry dropped 11.5 percent. Electricity production was 1.8 percent lower than last year.
Energy output rose 1 percent year-on-year during the month, while production of intermediate goods fell 19.1 percent. There a was 21.1 percent reduction in output of consumer durables, and consumer non-durables fell 13.6 percent. Capital goods production was up 4.7 percent.


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