Economy
CPI rise eases to 1.6 pct in Sep, but food up by 9.4 pct
The upward trend in Greece’s Consumer Price Index (CPI) reversed in September with a 1.6-pct rise year-on-year (YoY), after an increase of 2.7 pct in August, according to the data released on Tuesday by the Hellenic Statistical Authority (ELSTAT).
Trade deficit continues to shrink in Aug despite exports losing momentum
Greece’s trade deficit recorded a drop of 7 percent year-on-year (YoY) in August, after a decline of 21 percent in July, according to data released by ELSTAT on Friday.
State braces for losses as bank divestment plan is put into action
The Hellenic Financial Stability Fund (HFSF) formally launched last week the process of divesting its small participation in the share capital of Eurobank.
OECD outlines several areas where reforms could boost growth potential
The OECD published on Tuesday the annual Going For Growth report for 2023, with economic performance obstacles at country level and the relevant policy recommendations for four main areas.
Draft budget sees growth picking up in 2024, strong revenues driving primary surplus to 2.1 pct of GDP
The Finance Ministry tabled in Parliament on Monday the draft budget for 2024, with Greece seen growing by 3 pct in 2024 and securing a primary surplus of 2.1 pct of GDP.
Unemployment rate remains lodged near 11 pct after no change in Aug
Greece’s seasonally adjusted (SA) unemployment rate was unchanged in August, landing at 10.9 percent, the same as July after a slight upwards revision, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Weak demand and adverse weather reflected in Sep PMI, barely in expansion territory
Greece’s Manufacturing PMI remained in expansion territory in September, although it fell significantly to 50.3 points, from 52.9 points in August, according to S&P Global data released on Monday.
Monthly rise of 3 pct for producer price index in Aug prompts cost concerns
Greece’s Producer Price Index (PPI) contracted for the sixth successive month in August, dropping by 8.3 percent year-on-year (YoY), after falling by 8.6 percent in July, ELSTAT data showed on Friday.
Retail sales grow by 3.1 pct in Jul, as food sales continue to contract
Greece’s retail sales returned to positive territory in July, with a rise of 3.1 percent year-on-year (YoY), after a drop of 1.3 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
PBO draws attention to effects of climate crisis on public finances
The Parliamentary Budget Office (PBO) has published its quarterly report, in which it confirmed that - based on data for the first half of 2023 - the Greek economy is on course to reach its growth outlook, although natural disasters over the recent months have clouded the growth and fiscal outlook.