Economy
Industrial production drops for fourth straight month in Dec, up by 2.3 pct in 2022
Greece’s Industrial Production Index (IPI) remained on negative ground in December, falling by 1.4 percent year-on-year (YoY), after a decline of 1.1 percent in November, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Trade deficit records rare drop of 10.6 pct in Dec, widens by 50.7 pct for full year
For the first time in months, Greece’s trade deficit recorded a drop year-on-year (YoY), falling by 10.6 percent at the close of 2022, after a rise of 27.7 percent in November, according to data released by ELSTAT on Tuesday.
Loan rates exceed 5 pct in Dec, spread at highest in almost 20 years
Interest rates on loans in Greece continued their upward trend that started in the summer, with the weighted average rate on loans climbing to over 5 percent, at 5.06 percent at the end of 2022, according to the latest data released by the Bank of Greece on Thursday.
Banks discover stress test assumptions, results due in July
The European Banking Authority (EBA) announced this week the assumptions for this year’s stress tests. The process is expected to be completed in early summer, followed by the announcement of the results.
Unemployment steady at 11.6 pct in Dec, employed rise by almost 80,000 YoY
Greece’s seasonally adjusted (SA) unemployment rate remained stable in December at 11.6 percent, unchanged from November, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Manufacturing remains in contraction at start of 2023, but at slowest rate since Oct
Greece’s Manufacturing PMI remained in contraction at the start of 2023 at 49.2 points, eased off though from the 47.2 points of December, according to S&P Global data released on Wednesday.
Retail sales rise by 12.3 pct YoY in Nov, but volumes barely move
The growth in Greece’s retail sales picked up pace in November, rising by 12.3 percent year-on-year (YoY), from 8 percent growth in October, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Close of 2022 sees softer labour market, with 60,235 fewer jobs
Greece’s employment balance moved to positive territory in December, with 8,867 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
Growth in producer prices slows to 16.5 pct in Dec as energy rise moderates
There was a further slowdown in the pace of Greece’s Producer Price Index (PPI) in December, rising by 16.5 percent year-on-year (YoY), from 26.2 percent in November, ELSTAT data showed on Monday.
Sentiment edges up by 1.4 pts in Jan, consumer confidence unchanged
Greece’s economic sentiment (ESI) showed more signs of recovery in January, rising by 1.4 points to 104.9, after a downward revised 2.1 points to 103.5 in December, according to European Commission figures released on Monday.