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Greek Industrial Output Downturn Worsens In November

Greece's industrial production decreased for the fifth consecutive month in November, and at a faster pace than in the previous month, with all of the major industrial sectors recording decline in activity, data released by the Hellenic Statistical Authority showed Thursday.

Industrial production fell a working-day adjusted 6.1 percent on an annual basis in November, following the previous month's 4.7 percent decrease. Output has now fallen for the fifth consecutive month.

Production in the mining and quarrying industry plunged 17.6 percent and manufacturing production fell by 5.8 percent. Production and supply of electricity and water were lower by 3.5 percent and 4.6 percent respectively from November 2012.

Sequentially, industrial production dropped 4.8 percent in November, after falling 7.9 percent in October, the agency said.

During the January-November period, overall industrial production dropped 3.9 percent from the corresponding period of last year.

by RTTNews Staff Writer

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