Industrial production fell 1.4% in December

The Hellenic Statistical Authority announces the Industrial Production Index (IPI) with base year 2015=100.0 for December 2022, the evolution of which, on the basis of provisional and working day adjusted data, is as follows:

The Overall Industrial Production Index in December 2022 recorded a decrease of 1.4% compared with December 2021. The Overall IPI in December 2021 increased by 9.2% compared with the corresponding index in December 2020.

The average Overall Industrial Production Index for the period from January to December 2022 recorded an increase of 2.3% compared with the average IPI of the period from January to December 2021.

The seasonally adjusted Overall Industrial Production Index in December 2022 recorded an increase of 0.1% compared with the corresponding index of November 2022.

The index of tobacco products division recorded the greatest percentage increase, whereas the index of other transport equipment division showed the greatest percentage decrease in December 2022 compared with November 2022. Comparing the indices of December 2022 with the corresponding indices of December 2021, the greatest percentage decrease was recorded in other transport equipment division, while the highest percentage increase was recorded in mining of coal and lignite – extraction of crude petroleum and natural gas – mining support service activities division .

Evolution of the Industrial Production Index in December 2022

I.  Annual changes: December 2022 / December 2021

 The 1.4% decrease of the working day adjusted Overall IPI in December 2022, compared with the corresponding index in December 2021, is due to the annual changes of the sub-indices in the following industrial sections:

1.        Decrease of:

• 9% in the Electricity Supply Index.
• 4% in the Mining and Quarrying Index. The decrease was the result of the annual changes of the sub-indices in the following 2-digit divisions: mining of metal ores, other mining and quarrying.
• 7% in the Water Supply Index.

2.        Increase of:

• 6% in the Manufacturing Index. The increase was mainly the result of the annual changes of the sub-indices in the following 2-digit divisions: tobacco products, computers, electronic and optical products, basic pharmaceutical products and pharmaceutical preparations, repair and installation of machinery and equipment, οther manufacturing.

II.   Rates of change of the average index of the period January – December 2022 compared with the corresponding index of the period January – December 2021

The 2.3% increase of the working day adjusted average Overall IPI in the 12-month period January – December 2022, compared with the corresponding index in January – December 2021, is due to the corresponding rates of change of the sub- indices in the following industrial sections:

1.        Increase of:

• 4% in the Manufacturing Index.

2.        Decrease of:

• 2% in the Water Supply Index.
• 7% in the Electricity Supply Index.
• 8% in the Mining and Quarrying Index.

III.   Monthly changes: December 2022 / November 2022

The 0.1% increase of the seasonally adjusted Overall IPI in December 2022, compared with the corresponding index in November 2022 is due to the monthly changes of the sub-indices in the following industrial sections:

1.        Increase of:

• 0% in the Water Supply Index.
• 9% in the Mining and Quarrying Index.
• 8% in the Manufacturing Index.

2.        Decrease of:

• 2% in the Electricity Supply Index.