Industrial production in Greece increased 1.1 percent year-on-year in December of 2018, below an upwardly revised 4.2 percent rise in the previous month. Both manufacturing (-0.2 percent from 7 percent in November) and water supply output (-0.9 percent from 0.2 percent) fell while mining & quarrying production (-4.2 percent from -3.2 percent) dropped faster. On the other hand, electricity output rebounded sharply (6.7 percent from -2.9 percent). Considering 2018, industrial activity advanced 1 percent, following a 4.5 percent gain in 2017. On a seasonally adjusted monthly basis, industrial production declined 1.1 percent, down from an upwardly revised 3.9 percent increase in November. Industrial Production in Greece averaged -0.80 percent from 2000 until 2018, 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.