Greece’s industrial production fell 5.7% y/y in August following a 2.1% drop in July. It had managed to stick its nose into positive territory a couple of times this year but is back on the slide.
Greek industrial production 10 10 2014
There was some slightly better new as well today as the Greek stats office said that 2013 GDP was revised up to show a contraction of 3.3% instead of the -3.9% originally calculated. Small mercies eh?
Christine Lagarde was also out yesterday praising Greece for improving their fiscal position and that the IMF was ready to assist Greece with precautionary support.
SOme good news, some bad news and some same old same old news.
