Investment in industry has grown 12 pct

Investment in industry has grown 12 pct

Investments in Greek industry are estimated to have increased 12.1 percent this year, following a difficult 2016 when investment had shrunk by 3.5 percent, according to the latest survey on the sector published on Thursday by the Foundation for Economic and Industrial Research (IOBE). Still, investment was below the previous estimate.

The survey conducted in October and November showed that investment in industry will not match the IOBE forecast for an 18.8 percent annual increase this year, made after the March-April survey.

The greatest increase in investment was recorded in the food and drink sector, with the rise from 2016 coming to 21.2 percent. In contrast, there was a decline in the sectors of non-metallic minerals (43.4 percent on an annual basis) and chemicals (18.5 percent).

The first forecast (which is usually overoptimistic) for 2018 foresees a year-on-year increase of 15.4 percent, with the food and drink sector again being the main driver.

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