PRESS RELEASE. The Overall Turnover Index in Industry in July 2017, compared with June 2017, recorded an increase of 2.1% (Table 6).
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1 HELLENIC REPUBLIC HELLENIC STATISTICAL AUTHORITY Piraeus, 19 September 2017 PRESS RELEASE TURNOVER INDEX IN INDUSTRY: July 2017, y-o-y increase of 8.6% The evolution of the Turnover Index in Industry with base year 2010=100.0 for July 2017, on the basis of provisional data, is as follows: The Overall Turnover Index in Industry (both domestic and non-domestic market) in July 2017 recorded an increase of 8.6% compared with the corresponding index of July In July 2016, the corresponding annual rate of change of the Overall Turnover Index in Industry was -7.0% (Table 1). The Overall Turnover Index in Industry in July 2017, compared with June 2017, recorded an increase of 2.1% (Table 6). The average Overall Turnover Index in Industry for the 12-month period from August 2016 to July 2017 increased by 11.9%, compared with the corresponding index of the 12-month period from August 2015 to July In July 2016, the corresponding annual rate of change of the Overall Turnover Index in Industry was -12.3% (Table 13) Graph 1. Evolution of monthly (m-o-m) and annual (y-o-y) rates of change of the Overall Turnover Index in Industry Monthly rate of change Annual rate of change Information: Economic and Short-Term Indices Division Production Indices Section Diamantaki Aikaterini, Karathanos Panagiotis Tel: , Fax: a.diamantaki@statistics.gr, p.karathanos@statistics.gr 1
2 Evolution of the Overall Turnover Index in Industry I. Annual changes of the Overall Turnover Index in Industry: July 2017/July 2016 The 8.6% increase in the Overall Turnover Index in Industry in July 2017, compared with the corresponding index in July 2016, was due to the following: 1. Changes in the sub-indices of the industrial sections (Table 1): The Turnover Index in Mining and quarrying increased by 28.0%. The increase was the result of the annual changes of the sub-indices in the following 2-digit divisions: mining of coal and lignite, other mining and quarrying products. The Turnover Index in Manufacturing increased by 8.3%. The increase was the result of the annual changes of the sub-indices in the following 2-digit divisions: coke and refined petroleum products, basic metals, motor vehicles, trailers and semi-trailers, repair and installation services of machinery and equipment. 2. Changes in the sub-indices of the domestic and non-domestic market: The Turnover Index in Industry for the domestic market increased by 8.3% (Table 2). The Turnover Index in Industry for the non-domestic market increased by 9.1% (Table 3). Graph 2. Evolution of annual (y-o-y) rates of change of the Overall Turnover Index in Industry, Turnover Index in Domestic Market and Turnover Index in Non-Domestic Market Overall Turnover Index in Industry Turnover Index in Non-Domestic Market Turnover Index in Domestic Market II. Annual changes of the Turnover Index in Industry in the Domestic Market: July 2017/July 2016 The 8.3% increase of the Turnover Index in Industry for the domestic market in July 2017, compared with July 2016, is due to the following annual changes in the sub-indices of the following industrial sections (Table 2): The Turnover Index in Mining and quarrying increased by 29.0%. The increase was the result of the annual change of the sub-index in the following 2-digit division: mining of coal and lignite, mining of metal ores, other mining and quarrying products. The Turnover Index in Manufacturing increased by 8.0%. The increase was the result of the annual changes of the sub-indices in the following 2-digit divisions: coke and refined petroleum products, basic metals, motor vehicles, trailers and semi-trailers, repair and installation services of machinery and equipment. 2
3 III. Annual changes of the Turnover Index in Industry in the Non-Domestic Market: July 2017/July 2016 The 9.1% increase of the Turnover Index in Industry for the Non-Domestic market in July 2017, compared with July 2016, was due to the following: 1. Changes in the sub-indices of the industrial sections (Table 3): The Turnover Index in Mining and quarrying increased by 27.4%. The increase was the result of the annual changes of the sub-index in the following 2-digit division: other mining and quarrying products. The Turnover Index in Manufacturing increased by 8.6%. The increase was the result of the annual changes of the sub-indices in the following 2-digit divisions: coke and refined petroleum products, chemicals and chemical products, basic metals, electrical equipment. 2. Changes in the sub-indices for Eurozone and Non-Eurozone countries: The Turnover Index in Industry for Eurozone countries increased by 7.5% (Table 4). The Turnover Index in Industry for non-eurozone countries increased by 9.9% (Table 5). Graph 3. Evolution of annual (y-o-y ) rates of change of Turnover Index in Industry in Non-Domestic Market, Turnover Index in Eurozone Countries, Turnover Index in Non-Eurozone Countries Non-Domestic Market Eurozone Countries Non-Eurozone Countries IV. Monthly changes of the Overall Turnover Index in Industry: July 2017/ June 2017 The 2.1% increase of the Overall Turnover Index in Industry in July 2017, compared with the corresponding index in June 2017, was due to the following: 1. Changes in the sub-indices of industrial sections (Table 6): The Turnover Index in Mining and quarrying increased by 17.4%. The Turnover Index in Manufacturing increased by 1.8%. 2. Changes in the sub-indices of the domestic and non-domestic market: The Turnover Index in Industry for the domestic market increased by 2.9% (Table 7). The Turnover Index in Industry for the non-domestic market increased by 1.1% (Table 8). 3
4 Table 1. Annual rates of change of the Turnover Index in Industry: Total Market D i v i s i o n Weights July Rate of change 2017* / /2015 OVERALL INDEX Β MINING AND QUARRYING Mining of coal and lignite Extraction of crude petroleum and natural gas Mining of metal ores Other mining and quarrying products C MANUFACTURING Food Beverages Tobacco products Textiles Wearing apparel Leather and related products Wood and cork Paper and paper products Printing and recording services Coke and refined petroleum products Chemicals and chemical products Basic pharmaceutical products and pharmaceutical preparations Rubber and plastic products Other non-metallic mineral products Basic metals Fabricated metal products Computers, electronic and optical products Electrical equipment Machinery and equipment n. e. c Motor vehicles, trailers and semi-trailers Other transport equipment Furniture Other manufactured goods Repair and installation services of machinery and equipment Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data 4
5 Table 2. Annual rates of change of the Turnover Index in Industry: Domestic Market D i v i s i o n Weights July Rate of change 2017* / /2015 OVERALL INDEX Β MINING AND QUARRYING Mining of coal and lignite Extraction of crude petroleum and natural gas Mining of metal ores Other mining and quarrying products C MANUFACTURING Food Beverages Tobacco products Textiles Wearing apparel Leather and related products Wood and cork Paper and paper products Printing and recording services Coke and refined petroleum products Chemicals and chemical products Basic pharmaceutical products and pharmaceutical preparations Rubber and plastic products Other non-metallic mineral products Basic metals Fabricated metal products Computers, electronic and optical products Electrical equipment Machinery and equipment n. e. c Motor vehicles, trailers and semi-trailers Other transport equipment Furniture Other manufactured goods Repair and installation services of machinery and equipment Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data 5
6 Table 3. Annual rates of change of the Turnover Index in Industry: Non-Domestic Market D i v i s i o n Weights July Rate of change 2017* / /2015 OVERALL INDEX Β MINING AND QUARRYING Mining of coal and lignite Extraction of crude petroleum and natural (1) gas Mining of metal ores Other mining and quarrying products C MANUFACTURING Food Beverages Tobacco products Textiles Wearing apparel Leather and related products Wood and cork Paper and paper products Printing and recording services Coke and refined petroleum products Chemicals and chemical products Basic pharmaceutical products and pharmaceutical preparations Rubber and plastic products Other non-metallic mineral products Basic metals Fabricated metal products Computers, electronic and optical products Electrical equipment Machinery and equipment n. e. c Motor vehicles, trailers and semi-trailers Other transport equipment Furniture Other manufactured goods Repair and installation services of machinery and equipment Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data (1) The Index is not computed (base year value = 0). 6
7 Table 4. Annual rates of change of the Turnover Index in Industry: Eurozone Countries July Rate of change 2017* / /2015 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data Table 5. Annual rates of change of the Turnover Index in Industry: Non-Eurozone Countries July Rate of change 2017* / /2015 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data 7
8 Table 6. Monthly rate of change of the Turnover Index in Industry: Total Market July June Rate of change 2017* 2017** July 2017/June 2017 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables Table 7. Monthly rate of change of the Turnover Index in Industry: Domestic Market July June Rate of change 2017* 2017** July 2017/June 2017 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables Table 8. Monthly rate of change of the Turnover Index in Industry: Non-Domestic Market July June Rate of change 2017* 2017** July 2017/June 2017 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data ** Revised data 8
9 Table 9. Monthly rate of change of the Turnover Index in Industry: Eurozone Countries July June Rate of change 2017* 2017** July 2017/June 2017 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data **Revised data Table 10. Monthly rate of change of the Turnover Index in Industry: Non-Eurozone Countries July June Rate of change 2017* 2017** July 2017/June 2017 OVERALL INDEX B MINING AND QUARRYING C MANUFACTURING Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables * Provisional data ** Revised data 9
10 Table 11. Evolution of the Turnover Index in Industry (y-o-y changes): Total Market Year and month Overall Index (Total Market) Turnover Index in Industry for the Domestic Market Turnover Index in Industry for the Non-Domestic Market Index Annual rate of change Index Annual rate of change Index Annual rate of change 2016: **: * *Provisional data ** Revised data. The indices of the current year are revised after the inclusion of additional data from the enterprises. Table 12. Evolution of the Turnover Index in Industry (y-o-y changes): Non-Domestic Market Year and month Overall Index (Non-Domestic Market) Index Annual rate of change Turnover Index in Industry for Eurozone Countries Index Annual rate of change Turnover Index in Industry for Non-Eurozone Countries Index Annual rate of change 2016: **: * *Provisional data ** Revised data. The indices of the current year are revised after the inclusion of additional data from the enterprises. 10
11 Table 13. Average indices and rates of change of the 12-month periods of Turnover Index in Industry: Total Market D i v i s i o n Average Indices of 12-month periods Aug July 2017* Aug July 2016 Aug July 2015 Rate of change 2017/2016 Rate of change 2016/2015 OVERALL INDEX B MINING AND QUARRYING Mining of coal and lignite Extraction of crude petroleum and natural gas 07 Mining of metal ores Other mining and quarrying products C MANUFACTURING Food Beverages Tobacco products Textiles Wearing apparel Leather and related products Wood and cork Paper and paper products Printing and recording services Coke and refined petroleum products Chemicals and chemical products Basic pharmaceutical products and pharmaceutical preparations Rubber and plastic products Other non-metallic mineral products Basic metals Fabricated metal products Computers, electronic and optical products Electrical equipment Machinery and equipment n. e. c Motor vehicles, trailers and semi-trailers Other transport equipment Furniture Other manufactured goods Repair and installation services of machinery and equipment Energy Intermediate goods Capital goods Consumer Durables Consumer Non-Durables *Provisional data 11
12 METHODOLOGICAL NOTES Generally The Turnover Index is compiled since January Purpose of the index Legal basis Reference period The purpose of this index is to measure the monthly activity of the industrial sector in terms of value. Turnover comprises the totals invoiced (without VAT) by the observation units during the reference period and corresponds to the market sales of goods or services supplied to third parties. The purposes and the characteristics of the Turnover Index apply, as well, to the indices for the distinction between domestic and non-domestic turnover. The compilation and publication of the Turnover Index is based on the framework of requirements of Council Regulation (EC) No 1165/98 concerning short-term statistics (STS-R), as well as Regulation (EC) No 1158/05 of the European Parliament and Council amending Council Regulation (EC) No 1165/98. Furthermore, this index is governed by Regulation (EC) No 1893/2006 of the European Parliament and of the Council, by Commission Regulation (EC) No 656/2007 and by Regulation (EC) No 451/2008 of the Council. Month. Base year 2010= Revision Statistical classifications Geographical coverage The latest revision of the Turnover Index in Industry (base year 2010=100.0) took place in the framework of Council Regulation (EC) No 1165/98 concerning short-term statistics. In accordance with this regulation the index is revised every five years, in years ending in 0 or 5. At the level of categories of economic activities, the classification of NACE Rev. 2 was used (Regulation No 1893/2006), while at the level of main industrial groups, the allocation of two-digit and three-digit NACE Rev. 2 headings to categories of aggregate classification was used, in accordance with Commission Regulation No 656/2007. At product level, the Eurostat classification CPA 2008 was used, pursuant to Council Regulation No 451/2008. The Index covers the whole Country. Coverage of economic activities Computation of the Index Publication of data References The Turnover Index in Industry covers the whole country and is compiled for all activities listed in Sections C (mining and quarrying) and D (manufacturing) of the NACE Rev.2 classification. The Turnover Index in Industry is a fixed base index. This index is calculated at a first stage at the fourdigit level of economic activity and subsequently, with the implementation of appropriate weighting coefficients, the index is calculated at higher levels (three-level, two-level and one-level of economic activity) or at the level of Main Industrial Groupings (MIGs). The Turnover Index in Industry (2010=100.0) is released since November 2014 with September 2014 as first reference month. Data with base year 2010=100.0 are available from January 2000 onwards. More information about the methodology concerning the compilation and calculation of the index and for the time series is available on the website of the Hellenic Statistical Authority (ELSTAT) ( ). 12
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