Industrial sector seen in 5 year upward cycle-NBG
Greek industry has entered an upward cycle that is expected to pick up in the next five years, said National Bank of Greece (NBG) in a report.
The report said that Greece's industrial sector had been contracting between 2000-2015 and has since been picking up with investment in equipment up 14 percent in the last two years.
"It is noteworthy that current investment flows are marginally above the minimum required for the replacement of equipment, in a sign showing a healthy dynamic for the first time since 2008," said the report.
As a result, annual investments in industrial machinery in the next five years is estimated to be around 1.2 billion euros to 1.4 billion euros, it added.