Apparel industry is wearing thin

The apparel sector in Greece posted the biggest contraction of all Greek industries in the January-July period, according to figures released on Wednesday by the Hellenic Statistical Authority (ELSTAT).

Total production went down by 38.2 percent year-on-year, after a 14.5 percent annual decline in the same period in 2011, a 36.9 percent drop in 2010 and a 14.9 percent slide in 2009. This adds up to a total output decline of 71.6 percent within four years.

Across the whole industrial sector, the drop in output in the first seven months of 2012 came to 6.7 percent year-on-year.

Employment in the apparel sector shrank by 1,606 jobs in the second quarter of this year compared to the same period in 2011, the ELSTAT data also showed.