ECONOMY

Industrial production fell 11.3 percent in December

Greece’s industrial production decreased at a faster rate in December, according to data released by the Hellenic Statistical Authority (ELSTAT).

Industrial production declined 11.3 percent year on year in December, faster than the 7.8 percent fall recorded in November.

Production in the manufacturing industry fell 15.5 percent annually, while mining and quarrying output increased 2.2 percent. There was a 3.9 percent annual fall in electricity production during December.

Month-on-month, industrial output fell 4.3 percent in December, reversing the previous month’s 4.6 percent increase. In 2011, industrial output dropped on average 8.4 percent from the previous year.