Greece’s industrial output grew 1.8 pct y-o-y in May

Greek industrial output rose 1.8 percent year-on-year in May, from a downwardly revised contraction of 2.1 percent in April, statistics service ELSTAT said on Thursday.

The rise is primarily due to a 17.5 percent rise in mining activity.

Manufacturing production also rose by 1.2 percent.

Greek industry declined for six consecutive years over 2008-13, contracting by a total of 30 percent from its peak.

But the indicator has expanded in four out of the last six months, a sign that the country’s recession is bottoming out.