Greek industrial output slump deepens in November

Greek industrial output fell 6.1 percent year-on-year in November after a revised 4.7 percent drop in the previous month, the country’s statistics service ELSTAT) said on Thursday.

Reduced production of wood, petroleum, carbon and metal products led to a 5.8 percent decline in manufacturing output.

The November drop brings the overall decline of Greek industrial output to an annual pace of 3.9 percent in the first 11 months of the year, compared to a 3.4 percent drop in the full year of 2012.

Industrial production has been falling in Greece for six consecutive years, dropping by about 30 percent from its peak. [Reuters]

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