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Industrial production continues to decline at a slower rate

The country's industrial production continued to decline in July, though at a slower rate, according to preliminary figures from the Hellenic Statistical Authority.

Industrial production fell 2.1% year-over-year in July following the revised 5.4% drop in June. This marked the fifth consecutive month of decline.

Mining and quarrying output and production of electricity tumbled 15.4% and 12.2%, respectively. Meanwhile, manufacturing production grew 2.3%.

On a month-over-month basis, industrial production rose 2% in July, after the revised 5.1% growth in June. This was the fourth straight month of increase.

Last time the industrial output index showed a rise, was in the last month of 2013.