In its 2014 Employment Outlook published today, OECD retains its estimates for Greek unemployment rate unchanged at 27.1 percent in 2014 and 26.7 percent in 2015.
Greek non-seasonally-adjusted GDP contracted 0.3 percent year on year (YoY) in the second quarter (Q2) of 2014 from -1.1 percent in Q1, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) today.
Greece’s Manufacturing PMI resumed an upward trend for the first time since April, rising by 1.4 points to 50.1 in August from 48.7 in July, according to Markit. This was the first reading above the 50-point mark - which separates growth from contraction - since May.
The turnover of Greece’s retail trade index rebounded 0.4 percent year on year (YoY) in June after falling by a revised 8.3 percent in May, according to the Hellenic Statistical Agency (ELSTAT).
The rate of drop in Greek credit to the private sector accelerated to 3.7 percent in July from 3.5 percent in June, according to the Bank of Greece (BoG). Balances fell to 213.86 billion euros in July from 214.81 billion a month ago.
Greek private sector deposits increased by 0.1 percent month on month (MoM) in July, the fifth successive monthly rise, with balances reaching 163.22 billion euros, according to the Bank of Greece (BoG).
Greece’s economic sentiment deteriorated for the second straight month, easing to 101.9 points in August from 102.6 in July, according to the European Commission (EC).
The rate of rise in Greece’s unpaid taxes remained virtually unchanged at 1.01 billion in July from 1.03 billion in June, according to data provided by the General Secretariat of Information Systems.
After a double-digit rise in the preceding four months, the rate of increase in Greece’s trade deficit decelerated to 7.4 percent in June from 21.9 percent in May, according to the Hellenic Statistical Authority (ELSTAT).
After a temporary slowdown in May, Greece's travel receipts rebounded strongly in June, shooting up by 16.3 percent from 0.8 percent in May, according to the Bank of Greece (BoG)..