Production Index in Industry (2015=100.0), November 2020

HELLENIC REPUBLIC

HELLENIC STATISTICAL AUTHORITY

Piraeus, 08 January 2021

PRESS RELEASE

INDUSTRIAL PRODUCTION INDEX: November 2020, y-o-y increase of 8.6%

The Hellenic Statistical Authority announces the Industrial Production Index (IPI) with base year 2015=100.0 for November 2020, on the basis of provisional and working day adjusted data, as follows:

The Overall Industrial Production Index in November 2020 recorded an increase of 8.6% compared with November 2019. The Overall IPI in November 2019 decreased by 9.6% compared with the corresponding index in November 2018 (Table 1).

The average Overall Industrial Production Index for the period from January to November 2020 recorded a decrease of 2.7% compared with the average IPI of the period from January to November 2019 (Table 2).

The seasonally adjusted Overall Industrial Production Index in November 2020 recorded an increase of 6.2% compared with the corresponding index of October 2020 (Table 4).

The index of coke and refined petroleum products division recorded the greatest percentage increase, whereas the index of wearing apparel division showed the greatest percentage decrease in November 2020 compared with October 2020. Comparing the indices of November 2020 with the corresponding indices of November 2019, the greatest increase was recorded in basic pharmaceutical products and pharmaceutical preparations, while the strongest decline was recorded in leather and related products (Tables 1 and 4).

Graph 1. Largest monthly rates of change (m-o-m) of the seasonally adjusted 2-digit divisions indices (%) November 2020 / October 2020

Wearing apparel

Tobacco products

Leather and related products

Mining of metal ores

Furniture

Other transport equipment

Repair and installation of machinery and

equipment

Machinery and equipment

Printing and reproduction of recorded

products

Electricity supply

Chemicals and chemical products

Coke and refined petroleum products

-40-30-20-10 0 10 20 30 40

Graph 2. Largest annual rates of change (y-o-y) of the calendar adjusted 2-digit divisions indices (%)

November 2020 / November 2019

Leather and related products

Wearing apparel

Mining of metal ores

Wood and products of wood and cork

Chemicals and chemical products

Other mining and quarrying

Electrical equipment

Electricity supply

Tobacco products

Machinery and equipment

Fabricated metal products

Basic pharmaceutical products and

preparations

-80

-60

-40

-20

0

20

40

Information for methodological issues:	Information for data provision:
Business Statistics Division	Tel: [phone], 2308, 2310
Manufacture-Construction Indices and Industrial Products Section	E-mail:[e-mail]
Head of the Section: Diamantaki Aikaterini
Tel: [phone]
Fax: [phone]
E-mail:[e-mail]

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Evolution of the Industrial Production Index in November 2020

I. Annual changes: November 2020/ November 2019 (Table 1)

The 8.6% increase of the working day adjusted Overall IPI in November 2020, compared with the corresponding index in November 2019, is due to the annual changes of the sub-indices in the following industrial sections:

Increase of:

• 2.0% in the Mining and Quarrying Index. The increase was the result of the annual change of the sub-index in the 2-digit division of other mining and quarrying.
• 6.8% in the Manufacturing Index. The increase was the result of the annual changes of the sub-indices in the following 2-digit divisions: tobacco products, coke and refined petroleum products, chemicals and chemical products, basic pharmaceutical products and pharmaceutical preparations, basic metals, fabricated metal products, except machinery and equipment, electrical equipment, machinery and equipment.
• 18.0% in the Electricity Supply Index.
• 1.7% in the Water Supply Index.

II. Rates of change of the average index in the period January - November 2020 compared with the corresponding index of the period January - November 2019 (Table 2)

The 2.7% decrease of the working day adjusted average Overall IPI in the 11-month period January - November 2020, compared with the corresponding index in January - November 2019, is due to the corresponding rates of change of the sub-indices in the following industrial sections:

1. Decrease of:

• 4.1% in the Mining and Quarrying Index.
• 1.8% in the Manufacturing Index.
• 6.0% in the Electricity Supply Index.

1. Increase of:

• 0.9% in the Water Supply Index.

III. Monthly changes: November 2020 / October 2020 (Table 4)

The 6.2% increase of the seasonally adjusted Overall IPI in November 2020, compared with the corresponding index in October 2020 is due to the monthly changes of the sub-indices in the following industrial sections:

1. Increase of:

• 0.9% in the Mining and Quarrying Index.
• 4.7% in the Manufacturing Index.
• 12.6% in the Electricity Supply Index.

1. Decrease of:

• 0.7% in the Water Supply Index.

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The following graphs depict the annual rates of change (y-o-y) of the Industrial Production Index and the Manufacturing Index, the evolution of the seasonally and non-seasonally adjusted Overall Industrial Production Index, as well as the monthly rates of change (m-o-m) of the seasonally adjusted index.

Graph 3. Evolution of annual rates of change (y-o-y) of the Industrial Production Index

and the Manufacturing Index (%)

15
10
5
0
-5
-10
-15
1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11
					2018											2019											2020

		Industrial Production Index (y-o-y)		Manufacturing Index (y-o-y)

Graph 4. Evolution of the Industrial Production Index

(2015=100.0)

130
120
110
100
90
1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11
					2018											2019											2020

Non seasonally adjusted

Seasonally adjusted

3

Graph 5. Evolution of the monthly rates of change (m-o-m) of the seasonally adjusted Industrial Production Index (%)

8

6

4

2

0 -2

-4-6-8

-10

1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11	12	1	2	3	4	5	6	7	8	9	10	11
					2018											2019											2020

Seasonally adjusted Industrial Production Index (m-o-m)

It should be noted that the time series with the seasonally adjusted indices is recalculated every time a new observation is added in the time series. Therefore, the seasonally adjusted data differ from the data published in the previous Press Release.

The following graphs depict the evolution of the seasonally adjusted Industrial Production Index and the Main Industrial Groupings, as well as the evolution of the Industrial Production Index and the Industrial Sections Indices.

Graph 6. Evolution of the seasonally adjusted Industrial Production Index

and the Main Industrial Groupings, January - November 2020

(2015=100.0)

130
120
110
100
90
80
70
60
50
40
January	February	March	April	May	June	July	August	September	October	November

		Industrial Production Index		Energy				Intermediate Goods
		Capital Goods		Durable Consumer Goods				Non-Durable Consumer Goods

4