Economy
EC forecasts 9 pct dip followed by 5 pct recovery but new lockdown not factored in
The European Commission published on Thursday the economic forecasts for Europe within the context of the 2020 autumn forecasts.
Unemployment at 16.8 pct in Aug as inactives rise by 2.9 pct YoY
Greece’s seasonally adjusted (SA) unemployment rate came to 16.8 percent in August from a slightly upward revised figure of 17 percent in July, Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
Growing concerns over second lockdown in food service sector, a key employer
Greece’s catering sector is bracing for the impact of new measures to contain the virus and sounding the alarm that the industry cannot survive a second lockdown.
PMI edges down to 48.7 points in October as output declines at fastest rate since May
Greece’s manufacturing PMI slipped to 48.7 points in October from 50 points in September, according to the latest data from Markit.
All eyes on Piraeus as share price tumbles amid coupon payment concerns
The banking sector, particularly Piraeus Bank, was at the centre of attention last week, experiencing significant price turbulence as a result of concerns about coupon payments linked to the recapitalisation carried out five years ago.
Retail turnover drops by 1.4 pct in August for sixth continuous decline, volume drops by 1 pct
Greece’s retail sales index decreased by 1.4 percent in August following a downward revised drop of 2.7 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment up to 92.3 in October, consumer confidence drops for fourth consecutive month
Greece’s economic sentiment (ESI) rose by 2.8 points month-on-month in October to reach 92.3 points, European Commission (EC) figures showed on Thursday.
Credit growth in September up by 2.4 pct as business lending picks up
Credit movement in the Greek private sector rose by 2.4 percent in September after an increase of 1.9 percent in August, Bank of Greece (BoG) figures showed on Tuesday.
Deposits rise by 1.16 bln in September
Net deposit movements in the Greek banking system were positive by 1.16 billion euros in September, up notably from inflows of 421 billion euros in August, Bank of Greece (BoG) figures revealed on Tuesday.
Pandemic takes heavy toll on Greek workers, study finds
Research from the General Confederation of Greek Workers (GSEE) has shown the burden of the coronavirus pandemic on the average Greek worker.