Greece Industrial Downturn – March 2024 Update

Forex News – Industrial production in Greece experienced a notable decline in March 2024, shrinking by 0.6% year-on-year. This downturn marks a significant shift from the 1.6% growth observed in the previous month, ending a six-month streak of expansion.

Sector-Specific Insights

Different sectors within the industrial landscape showed varied performance. Mining and quarrying faced the steepest decline, dropping by 2.5%, closely followed by manufacturing, which decreased by 2.3%. In contrast, there were gains in the water supply and electricity sectors, which grew by 1.6% and 8.2% respectively.

Short-Term Industrial Trends

On a seasonally adjusted monthly basis, the overall industrial activity continued to weaken, with a 1.3% decrease following a 1.7% decline in the previous month. This consecutive reduction underscores challenges that may affect trading and investment decisions in the near term.

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Ethan O. Miller

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