BUSINESS

Turnover in industry drops 13.4 pct from a year earlier

DIMITRA MANIFAVA

TAGS: Economy

The industrial turnover index stayed at particularly low levels for another month, with data on products heading to foreign markets being of particular concern.

Data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday for the index in the month of May showed the highest reading for the year so far, However, it remains a long way from levels that would render the Greek industry sustainable, with growth prospects and with the potential for job creation.

In comparison with May 2015, the index posted a decline of 13.4 percent, after a 3.8 percent drop recorded last year from May 2014. This leads to the conclusion that Greek industry has a huge challenge ahead to cover the ground it lost due to the dramatic economic and political events of last summer, to say nothing of returning to growth.

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