cuts and a multi-year recession took a heavy toll on Greek household incomes. Deflation in the country hit its highest level in November 2013 when consumer prices registered a 2.9 percent year-onyear decline. The economy emerged from deflation in June 2016.
Greek industrial output increased 2.0 percent in September compared to the same month last year, after a downwardly revised 1.0 percent increase in August, statistics service ELSTAT said yesterday. Looking at index components, manufacturing production increased 1.3 percent from the same month last year, while mining output fell 14.7 percent. Electricity production rose 10.7 percent with water output down 2.2 percent. in Turkey with oil from different producers in Europe, the Black Sea region and the Gulf, the head of SOCAR’s trading arm said in an interview yesterday. Adnan Ahmadzadeh, Socar Trading executive chairman, also said the company would soon start selling polypropylene and lowpressure polyethylene from Socar’s polymer plant, which started operating in August. As for the fertilizer carbamide (urea), which is expected to be produced at a plant in the city of Sumgait in 2019, exports will focus on Turkey, Romania, Ukraine, Bulgaria, Greece, Israel and Italy.