Economy
Moody's upgrade underlines gap between economic story and reality for households
The recent upgrade of Greece’s credit rating by Moody’s to investment grade highlighted the difficulties that Kyriakos Mitsotakis and his administration have had in building traction for the government’s economic record with the Greek public.
Current account at 1 bln surplus in Jan, goods deficit at 2.91 bln
Greece’s current account was in surplus in January of 1.02 billion, from a deficit of 3.6 billion euros in December, Bank of Greece (BoG) data showed on Monday.
Property price rise slows to 8.7 pct in 2024, from 13.9 pct jump in 2023
The growth in the nominal value of apartments in Greece slowed further in the last quarter of 2024, increasing by 6.6 percent year-on-year (YoY) from an upwards revised 8.1 percent in Q3 2024, Bank of Greece (BoG) data released on Thursday showed.
Industrial turnover growth slows to 2.2 pct YoY in Jan with modest manufacturing gains
Greece’s industrial turnover growth slowed in January, rising by 2.2 percent year-on-year (YoY), from a 5.7 percent increase in December, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Primary surplus lands at 2.72 bln up to Feb, tax collections remains strong
The budget primary balance ran a surplus of 2.72 billion euros up to February, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Tuesday.
Moody's upgrading Greece to investment grade puts an end to painful 15-year cycle
Moody’s upgraded Greece’s rating to ‘Baa3’ on Friday, while the outlook was revised from positive to stable. Greece has now secured the investment grade from all leading rating agencies, for the first time since the debt crisis erupted in 2010.
Seasonality drives wage index up by 4.9 pct YoY in Q4
Greece’s seasonally adjusted (SA) Wages Index resumed growth in Q4, rising by 4.9 percent year-on-year (YoY), from 1.3 percent contraction in the third quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Import prices rise by 0.1 pct YoY in Jan, led by energy and non-durables
Greece’s import price index started the new year virtually unchanged, with a 0.1 percent year-on-year (YoY) rise increase in January, after a 0.6 percent rise in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Slowdown in vehicle market continues in Feb, led by lower sales of new cars
Vehicles going into circulation for the first time contracted by 1.2 percent year-on-year (YoY) in February, after a decrease of 7.4 percent in January, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Debt position provides protection against global turbulence
The eurozone sovereign debt markets experienced turbulence last week due to a number of interrelated factors.