Economy
Commission points to poor access to finance, slow reform as hampering Greek competitiveness
In its 2014 European Competitiveness Report published today, the European Commission (EC) ranks Greece in the third group along with 10 other countries in terms of industrial competitiveness.
Greek CPI down by 0.3 pct in August as rate of decline slows for third month in a row
The decline in the Greek Consumer Price Index (CPI) slowed down for the third successive month to -0.3 percent in August from -0.7 percent in July, according to the Hellenic Statistical Authority (ELSTAT).
Industrial production drops 2.1 pct in July but rate of decline slows
The rate of drop in the Greek Industrial Production Index (IPI) slowed to 2.1 percent in July after a revised 5.4 percent decline in June, according to the Hellenic Statistical Authority (ELSTAT).
Car sales up by 20.8 pct in August but rise continues to slow
The rate of increase in the number of road motor vehicles going into circulation for the first time slowed for the second consecutive month to 20.8 percent in August from 25.9 percent in July, according to the Hellenic Statistical Authority (ELSTAT).
Strong tourism season confirmed by Q2 accommodation turnover
The Turnover Index in Accommodation and Food Services rose by 6.7 percent in the second quarter (Q2) after a 44.9 percent increase recorded in Q1, according to Hellenic Statistical Authority (ELSTAT).
Exports resumed a downward trend in July, imports up 10.1 pct
After a temporary rise of 11.3 percent in June, Greece’s exports resumed a downward trend easing by 1.1 percent in July, according to the flash estimates of commercial transactions released by Hellenic Statistical Authority (ELSTAT) today.
WEF report highlights weakness of Greek institutions and challenges of recovery
Greece’s competitiveness improved by 10 spots in 2014, at an accelerating pace compared to the previous year, according to the Global Competitiveness Report 2014-15 published by the World Economic Forum (WEF) today. In 2013, Greece had gained 5 spots.
Greek primary cash surplus widens to 3.2 bln in 7-month
The Greek general government (gg) primary cash surplus widened by 82.7 percent year on year (YoY) to 3.24 billion in the 7-month period of 2014 from 1.77 billion last year, according the gg bulletin released by the Ministry of Finance (MoF) today.
Loan rates rebounded in July, deposit rates continued heading south
The interest rate on households’ new time deposits fell by another 11 basis points (bps) to 2.28 percent in July, according to the Bank of Greece (BoG).
OECD report paints grim picture for Greece's labour market
In its 2014 Employment Outlook published today, OECD retains its estimates for Greek unemployment rate unchanged at 27.1 percent in 2014 and 26.7 percent in 2015.