Economy
Scope takes Greece a step further into investment grade territory with 'BBB' rating
Scope Ratings completed the annual cycle of rating reviews for Greece with a positive move as it granted the first upgrade of the year and is the only agency that has moved Greece’s rating one step further into the investment grade territory.
Trade deficit rises by 11.5 pct YoY in Oct, 10M deficit at 28.32 bln
Greece’s trade deficit rose sharply by 11.5 percent year-on-year (YoY) in October, after a rise of 12.9 percent in September, according to data released by ELSTAT on Friday.
GDP growth slows to 0.3 pct QoQ, investments underwhelm
Greece’s seasonally adjusted (SA) GDP decelerated significantly in Q3, rising by 0.3 percent quarter-on-quarter (QoQ), from a 1.2 percent increase in Q2, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
Boosted by seasonal jobs, unemployment at 9 pct in Q3 - lowest since 2009
Greece’s non-seasonally adjusted quarterly unemployment rate fell further in Q3, dropping to 9 percent, from 9.8 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
OECD sees stable growth of 2.2 pct next year and persistent structural challenges
The OECD published on Wednesday the latest economic outlook with the growth estimates for Greece broadly in line with other international organisations and the Finance Ministry’s forecasts. The report also outlines a number of challenges for the economy from the medium-term.
Property price growth slows to 7.8 pct YoY in Q3, index near prior all-time high
The growth in the nominal value of apartments in Greece slowed in the third quarter of 2024, increasing by 7.8 percent year-on-year (YoY) from an upwards revised 9.4 percent in Q2 2024, Bank of Greece (BoG) data released on Tuesday showed.
Latest data highlights tough day-to-day economic conditions, giving opposition ammunition
Political developments are putting more pressure on the government to deliver tangible economic results.
PMI posts moderate drop in Nov, difficulties in supply chain persist
Greece’s Manufacturing PMI recorded a moderate drop in November, falling to 50.9 points, from 51.2 points in October, according to S&P Global data released on Monday.
Producer prices down by 2.3 YoY in Oct on back of fuel drop, rise in other categories
Greece’s Producer Price Index (PPI) remained in contraction in October, dropping by 2.3 percent year-on-year (YoY), after a decline of 4.5 percent in September, ELSTAT data showed on Wednesday.
Retail sales resume growth of 1.7 pct YoY in Sep, volumes drop for three straight months
Greece’s retail sales resumed growth in September with a rise of 1.7 percent year-on-year (YoY), after a drop of 1.7 percent in August, Hellenic Statistical Authority (ELSTAT) data showed on Friday.