Greek industrial output falls 5.1 pct y/y in September

Greek industrial output fell 5.1 percent year-on-year in September after an upwardly revised 5.9 percent contraction in August, its seventh straight month of decline, statistics service ELSTAT said on Monday.

The drop was mainly due to a 5.7 percent decline in mining output and a 15.2 percent fall in electricity production. Manufacturing production fell 2.1 percent from a year earlier.

September’s drop was the seventh 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.