High participation rate helps bond swap tick box
Greece continues debt management with swap of bonds worth 30 bln
Retail sales continue their rise in July as consumer confidence improves
Rating agencies concur in improved prospects for Greece
Fitch upgrades Greek rating to B-, sees debt sustainability improving
Greece completes first bond issue in three years, eyes more on way out of programme
EC sticks with 0.6 pct growth for Greece in 2014 but also sees C/A deficit
In its winter economic forecasts released on Tuesday, the European Commission (EC) notes that recent data support expectations that Greece should return to growth in 2014. Confidence indicators continue to improve, whilst hard data releases suggest the first signs of recovery.
The EC retains its headline forecasts for Greek GDP growth unchanged at 0.6 percent in 2014 and 2.9 percent in 2015. Nevertheless, there are some differentiations in the evolution of the key GDP contributors:
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