ECONOMY

Greek industrial output falls 2.1 pct y/y in July

Greek industrial output fell 2.1 percent year-on-year in July after an upwardly revised 5.4 percent contraction in June, its fifth straight month of decline, statistics service ELSTAT said on Tuesday.

The drop was mainly due to a 15.4 percent decline in mining output and a 12.2 percent fall in electricity production.

Manufacturing production rose by 2.3 percent compared to the same month a year earlier.

July’s drop was the fifth consecutive contraction in industrial output since February this year, based on revised data that sets 2010 as the base year, ELSTAT said.

Greek industrial output declined for six consecutive years over 2008-13, contracting by a total of 30 percent from its peak. [Reuters]