Industrial production down 11.7 pct in August

Industrial production plunged 11.7 pct in August this year, mainly reflecting an 11.0 pct drop in manufacturing production, Hellenic Statistical Authority said on Monday. The statistics service, in a report, said the industrial production index was down 0.5 pct in August 2010. The 11.7 pct decline of the index was attributed to a 5.0 pct drop in mining production, an 11 pct decline in manufacturing production (mainly oil products, basic pharmaceutical products, non metal minerals and machinery), a 16.7 pct drop in electricity production and a 2.3 pct fall in water production.
The industrial production index fell by 8.4 pct on average in the January-August 2011 period, compared with the same period last year, after recording a 5.3 pct drop in the eight-month period in 2010.