Industrial production declined 4.7% in May compared to April

Reduction of business expectations in the industry, to 105.3 units in June from 110 units in May, is shown by the monthly bulletin for the industry published by the Foundation for Economic & Industrial Research (IOBE)

At the same time, it records an increase in unemployment in May 2021, after eight months of continuous decline, a marginal improvement in the economic climate in June and a decline in consumer confidence.

In particular, IOBE notes the decline in industrial production of 4.7% in May compared to April and the significant increase of 13.9% (y-o-y) in Greece.

The strengthening of industry exports is also noticeable by 35.8% in April (y-o-y) as well as the increase of the trade deficit to € 2.3 billion from € 1.3 billion a year ago.

Also significant was the contribution of the food-beverage industry to the total processing in 2018, with an added value of € 3.4 billion, or 29% to the total processing.

As mentioned, the food and beverage industry is the largest employer of Greek processing, with a percentage of employees at 33% of total processing for 2020.