Economy
Current account deficit to Oct plunges to 8.7 bln as energy impact eases and imports drop
Greece’s current account recorded a deficit of 1.45 billion euros in October, from a deficit of 404.3 million euros in September, Bank of Greece (BoG) data showed on Thursday.
BoG revises 2024 growth down to 2.5 pct, advocates wide range of policies and reforms
The Bank of Greece published on Wednesday its interim monetary policy report for 2023, which assesses the economy’s progress over the year, though challenges are clouding the outlook.
Industrial turnover drops by 2.1 pct YoY in Oct due to foreign markets and manufacturing
Greece’s industrial turnover stayed in contraction in October, but at a slower pace in as it dropped by 2.1 percent year-on-year (YoY), from a 5.1 percent decrease in September, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
Solid revenues, contained spending lead to primary balance beating target by 2 bln in Nov
The budget primary balance came to a surplus of 5.85 billion euros in November, compared to a deficit of 1.09 billion euros in the same period of 2022, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Tuesday.
Benefits of investment grade starting to become visible
Greece started seeing the first signs of the rewards from securing an investment grade from all the leading, and ECB accepted, rating agencies bar Moody’s, though domestic continue to cause concern for the government.
Wage growth continues for sixth quarter, up 5.9 pct YoY in Q3
Greece’s seasonally adjusted (SA) Wages Index maintained a solid growth trend in Q3, rising by 5.9 percent year-on-year (YoY), from an upwards revised 5.6 percent in the second quarter of 2023, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Decline in import prices accelerates to 13.4 pct in Oct
Greece’s import price index continued to contract in October, picking up pace from the previous month, as it fell by 13.4 percent year-on-year (YoY), after dropping by 9.2 percent in September, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Unemployment drops marginally to 10.8 pct in Q3
Greece’s non-seasonally adjusted quarterly unemployment rate moved only marginally in Q3 this year, dropping to 10.8 percent from 11.2 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Solid Nov for car sales, which are up by 15.2 pct in 11M
Road motor vehicles going into circulation for the first time recorded another solid growth rate, growing strongly by 24.3 percent year-on-year (YoY), after a 38.9 percent rise in October, according to Hellenic Statistical Authority (ELSTAT) data released on Monday.
Led by manufacturing and electricity, Industrial Production rises by 10.5 pct YoY in Oct
Greece’s Industrial Production Index (IPI) jumped in October, growing by 10.5 percent year-on-year (YoY), after a 1.9-percent rise in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.