ELSTAT: General turnover index in industry down 11.5%

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%

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