Economy
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.
Unemployment rate edges up to 9.8 pct in Oct
Greece’s seasonally adjusted (SA) unemployment rate remained below the 10 percent mark in October, although it edged up to 9.8 percent, from 9.4 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Deposits drop by 2.26 bln in Oct to 195.51 bln
The net private sector deposits in the Greek banking system contracted in October with a drop of 2.26 billion euros, after a 2.32-billion-euro rise in September, according to the latest Bank of Greece (BoG) figures released on Thursday.
Credit to corporations leads credit growth of 9.1 pct YoY in Oct
The credit expansion in the Greek private sector accelerated in October, rising by 9.1 percent year-on-year (YoY), from 6.6 percent in the previous month, Bank of Greece (BoG) figures released on Thursday showed.
Building activity rises by 10.5 pct YoY in Aug, up 19.5 pct in 8M
Building activity remained in growth in August, with an increase of 10.5 percent year-on-year (YoY), after a sharp rise of 15.2 percent in July, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Thursday.
Economic sentiment slides in Nov, led by services and construction
Greece’s economic sentiment (ESI) deteriorated further in November, falling to 106.1 points, from 106.9 in the previous month, according to European Commission figures released on Thursday.
Details of 2025 budget point to complex economic challenges ahead
The Finance Ministry tabled last Wednesday the final budget for 2025. As much as the headline numbers support the government narrative of stable growth and solid fiscal performance, the underlying numbers highlight the challenges for the coming years.