According to the data published by Greek Statistics Authority ELSTAT regarding the general turnover in industry and new orders in March, the Greek economy is still in a deep recession.
Specifically, the general turnover index in industry was reduced by 11.5%, compared to a 4.8% reduction for the previous year.
According to ELSTAT the fall in domestic industry’s turnover is attributed to:
– The reduction of the turnover ratio of mines and quarries by 51.1%
– The reduction of the turnover ratio of manufacturing industries by 1.07%
– The reduction of the turnover ratio of the domestic market by 21.6% and
– The reduction of the turnover ratio of the overseas market by 3.8%
The ELSTAT data also indicated that the new orders index was reduced by 12.7%, compared to a 1.9% reduction that was documented last year.
This development is attributed to the reduction of overseas orders that maintained Greek industry, as well as:
– the reduction of new orders for the domestic market by 14%
– the reduction of new orders for the overseas markets by 12.7%
