Economy
Scope leaves rating unchanged at BBB-, ups outlook to positive due to solid fiscal performance
Scope Ratings kept Greece’s rating unchanged at ‘BBB-‘ on Friday. This is the lowest step of the investment grade that it granted Greece in August last year, but Scope upped the outlook to positive.
Growth in vehicle sales remains subdued in June, H1 up by 6.5 pct YoY
Road motor vehicles going into circulation for the first time rose by 3.6 percent year-on-year (YoY) in June, after a drop of 0.8 percent in May, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Electricity and manufacturing boost industrial production for 6.7 pct growth in June
Greece’s Industrial Production Index (IPI) grew in May following a significant rise of 6.7 percent year-on-year (YoY), after an upwards revised 11.7 percent increase in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
CPI stable at 2.3 pct in June, food prices drop below headline figure for first time since 2022
The growth in Greece’s Consumer Price Index (CPI) moderated slightly in June with a rise of 2.3 percent year-on-year (YoY), after an increase of 2.4 percent in the previous month, according to the data released on Tuesday by the Hellenic Statistical Authority (ELSTAT).
Ongoing rise in imports and tame exports elevate trade deficit to 3.39 bln in May
Greece’s trade deficit recorded a solid rise of 13.6 percent year-on-year (YoY) in May, after a jump of 35.6 percent in April, according to data released by ELSTAT on Monday.
Hotel and catering jobs propel May hiring balance to new record
Greece’s employment balance had another solid month in May, with 126,660 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
Reports raise questions about some economic policy decisions
Two reports published last week highlighted issues that have placed the government under pressure from the opposition parties over the last few months and raise questions about some of the policy decisions taken by the ruling conservatives.
Unemployment rate almost unchanged at 10.6 pct in May
Greece’s seasonally adjusted (SA) unemployment rate stayed virtually unchanged in May, landing at 10.6 percent, from 10.7 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Manufacturing continues to improve, but June PMI weakest of year
Greece’s Manufacturing PMI continued to moderate in June, dropping to 54 points, from 54.9 points in May, according to S&P Global data released on Monday.
Producer prices down by 1.4 pct YoY in May, headed by energy
Greece’s Producer Price Index (PPI) remained in contraction in May, dropping by 1.4 percent year-on-year (YoY), after falling by 1 percent in April, ELSTAT data showed on Friday.