ATHENS: Greece industrial output rose for the third month in a row in April, increasing by 0.4 percent compared to the same month a year earlier after an upwardly revised 5.3 percent rise in March, statistics service ELSTAT said on Tuesday.
Manufacturing production rose 3.5 percent from the same month a year earlier, ELSTAT said. Mining output declined by 2.6 percent while electricity production dropped by 11.4 percent. For 2014 as a whole, industrial output shrank 2.2 percent year-on-year.
Greece’s economy contracted by 0.2 percent in the first quarter, dipping back into recession after a fragile recovery last year. It is expected to expand by only 0.5 percent this year based on the latest EU Commission forecasts. Greece industrial output has declined for six consecutive years over the 2008-13 period, contracting by a total of 30 percent from its peak.
