Greek industrial output climbs 1.1% in June
Manufacturing and mining activity rebound as Greece's industrial sector shows modest growth for the month.
Greece's industrial production rose 1.1% year-on-year in June, data from the Hellenic Statistical Authority showed on Friday.
The increase follows a revised 0.3% decline in May and marks a second consecutive month of expansion after a prolonged period of contraction. On a monthly basis, output fell 0.2% from May, reflecting seasonal adjustments.
Manufacturing output, which accounts for the largest share of industrial activity, grew 1.5% year-on-year, while mining and quarrying output declined 3.4%. Energy production rose 0.8%, partially offsetting the decline in mining.
The data suggests a gradual recovery in Greece's industrial sector, which has faced headwinds from weak domestic demand and global supply chain disruptions. Economists note that while the uptick is encouraging, sustained growth will depend on broader economic conditions and external demand.
Greece's industrial production index remains below pre-pandemic levels, underscoring the challenges in achieving a robust recovery.
Elena covers macroeconomic data and policy across the eurozone, translating industrial output, inflation and growth figures into what they mean for markets.
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