Economy
Iran war creates turbulence for Greek tourism outlook
The Iran war has introduced a level of volatility into the Greek tourism sector not seen since the pandemic in 2020. Four weeks into the conflict, the effects are already visible: jet fuel costs have doubled, pushing airfares higher, while the paralysis of Middle Eastern aviation hubs has severed vital connections to the East.
Unemployment edges up to 8.5 pct in Feb
Greece’s seasonally adjusted (SA) unemployment rate edged up to 8.5 percent in February, from an upwards revised 7.9 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
PMI stable in March as war starts affecting business and confidence
Greece’s manufacturing PMI was stable in March at 54.5 points, from 54.4 points in the previous month, S&P Global data showed on Wednesday.
Strong rise in food sales pushes 7 pct YoY increase in Jan retail
The growth of Greece’s retail sales jumped by 7 percent year-on-year (YoY) in January, after a rise of 6.4 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Economic sentiment declines in March, consumer confidence at lowest since 2022
Greece’s economic sentiment (ESI) deteriorated in March, with the index at 106.8 points, from 107.6 in the previous month, according to European Commission figures released on Monday.
PPI drop moderates to 1.7 pct YoY in Feb, driven by energy
Greece’s Producer Price Index (PPI) moderated its drop in February to 1.7 percent year-on-year (YoY), after a decrease of 3.7 percent in the previous month, ELSTAT data showed on Monday.
Greece braces for price shockwaves from Iran amid weakening purchasing power
As the conflict in Iran shows no sign of easing, and with damage to energy infrastructure in the Middle East estimated to have reduced production capacity by roughly 30–40 percent - repairs that could take years to complete - it is becoming evident that the world will face unsettled energy markets and volatile prices for some time, even in the more benign scenario of a swift end to the war.
Building activity moderated in Dec, dropped by 2.6 pct in 2025
Building activity moderated in December, with a rise of 0.9 percent year-on-year, after an increase of 9.9 percent YoY seen in November, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday.
Lending to corporations keeps annual credit growth steady at 7.4 pct in Feb
Credit expansion in the Greek private sector remained strong in February, rising by 7.4 percent year-on-year (YoY), from 7.6 percent the previous month, Bank of Greece (BoG) figures released on Thursday showed.
Deposits continue to slide in Feb, falling to 207.52 bln
Private sector deposits recorded a further drop during February, with a net outflow of 445 million euros, after a drop of 5.18 billion euros in January, according to the latest Bank of Greece (BoG) figures released on Thursday.