Greece: Industrial activity contracts at sharpest pace since April 2022 in March
Latest reading: Industrial production fell 4.6% month-on-month in seasonally adjusted terms in March, contrasting February’s upwardly revised 2.6% expansion. March’s result marked the worst reading since April 2022. The deterioration was driven by a broad-based downturn across the major sectors, with manufacturing, mining, electricity and water output all contracting in March.
On an annual basis, industrial production rose 1.7% in March, which was significantly below February’s 6.0% expansion. Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at 5.1% in March, up from February’s 4.9%.