Greece overall production rises in June from May, but chems fall

09 August 2012 16:35  [Source: ICIS news]

LONDON (ICIS)--Greece’s overall production rose in June from May, marking its second month-to-month increase in a row, but chemical production fell, the country’s government statistics agency said on Thursday.

The Hellenic Statistical Authority said that based on preliminary data, its overall production index for Greece rose to 79.8 points in June, from 76.7 in May. The index’s base is set at 100.0 for the year 2005.

Year on year, the index was up by 0.3 points from 79.5 in June 2011. In June 2010, the index stood at 91.7 points.

June’s increase was driven by higher production in the mining, manufacturing, electricity and water supply sectors, the agency said.

However, for the first six months of 2012, the index was 73.9, down from 77.6 and 84.5 in the first six months of 2011 and 2010, respectively.

The production index for the chemical sector was 76.0 in June, down from 82.7 in May. The chemical production index was 85.5 and 96.3 in June 2011 and June 2012, respectively.

For the first six months of 2012, the chemical production index was 75.5, compared with 87.2 and 90.2 in the same periods of 2011 and 2012.

In related news, Munich-based research group Ifo said that its eurozone economic climate indicator deteriorated in the third quarter, with assessments of the current situation for “Greece, Italy, Portugal, Spain and Cyprus remaining at recession level.”

The indicator fell to 88.9 points in the third quarter, from 100.3 in the second quarter. The group will publish a detailed report on the third-quarter findings on 16 August.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog


By: Stefan Baumgarten
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