Industrial output remained in contraction for a third consecutive month in August, recording an annual drop of 0.5%. The respective reading in July was -1.9%, data from statistics office ELSTAT showed.

On a seasonally-adjusted basis, IPI rose 0.9% m-o-m in August. 

Electricity supply index was largely behind the IPI’s decline, as it fell 7.0%. In contrast, the manufacturing index added 1.4%.