Industrial production in Greece rose 3.4 percent year-on-year in January 2019, following a 1.3 percent rise in the previous month, as output grew much faster for electricity supply (21.9 percent vs 6.7 percent in December). In addition, manufacturing activity recovered (0.2 percent vs -0.2 percent), on higher production of tobacco products (66.2 percent); printing & recording services (15.3 percent) and basic pharmaceuticals (32 percent); and water supply also rebounded (2.1 percent vs -0.9 percent). In contrast, production plunged for mining & quarrying (-32.1 percent vs -4.2 percent). On a seasonally adjusted monthly basis, industrial production increased 1.5 percent, after a downwardly revised 1 percent decline in the prior month. Industrial Production in Greece averaged -0.78 percent from 2000 until 2019, reaching an all time high of 11.90 percent in March of 2000 and a record low of -13.80 percent in January of 2009.
Industrial Production in Greece is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Greece to stand at 2.50 in 12 months time. In the long-term, the Greece Industrial Production is projected to trend around 2.20 percent in 2020, according to our econometric models.