Industrial output drops

Industrial output declined in March by 4.3 percent year-on-year, against a 7.7 percent annual increase posted a year earlier, according to data released on Monday by the Hellenic Statistical Authority (ELSTAT).

On an annual basis, over the April 2011 – March 2012 period, production grew 6 percent, but this was smaller than the 6.9 percent rate posted the year before.

The decline of the general turnover index in the industrial sector is mostly attributed to the drop in turnover in manufacturing industries and in the sales in the domestic and foreign markets.

March was also the first month in which orders from abroad posted a yearly decline (by 3.5 percent), in line with domestic orders (-3.9 percent).