BUSINESS

Greek manufacturing on way to recovery

TAGS: Economy

Manufacturing production rose 2.6 percent year-on-year in the second quarter of 2019, following a 2.2 percent rise in the first quarter, according to data provident by Greece’s independent statistics authority ELSTAT.

An analysis by Eurobank Research notes that manufacturing has been recovering from its financial crisis lows over the past three years, with a 3.4 percent average annual rise of gross added value.

Also utilized capacity rose from 64.3 percent in 2012 to 70.9 percent in 2018, still significantly lower than the 1995-2007 average (77.6 percent).

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