Industrial production contracts again in July, as electricity supply drives 1.9 pct drop

EconomyMacroeconomy Tags: ELSTAT, Industrial
Photo via https://flic.kr/p/bwZLC3
Photo via https://flic.kr/p/bwZLC3

Greece’s Industrial Production Index (IPI) recorded back-to-back contractions in July, falling by 1.9 percent year-on-year (YoY), after dropping by a downward revised 3.4 percent in June, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.

The index had been growing in the first five months of 2023, with June’s print being the first negative reading since December 2022.

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