ECONOMY

Greek industrial output drops 0.7 percent y-o-y in October

Greek industrial output fell 0.7 percent year-on-year in October after a upwardly revised 4.9 percent contraction in September, its eighth straight month of decline, statistics service ELSTAT said on Wedneday.

The drop was mainly due to a 5.6 percent decline in mining output and a 13.1 percent fall in electricity production.

Manufacturing production rose 3.5 percent from a year earlier.

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

[Reuters]