Economy
S&P upgrades Greece one notch to B, sees growth in 2015
Standard and Poor’s (S&P) upgraded today Greece’s long-term rating by one notch to ‘B’ from ‘B-‘ with a stable outlook and reflects its view that risks to fiscal consolidation have abated.
Greek primary budget surplus eases to 1.95 bln on back of lower revenues in Aug
Greece’s budget execution showed the primary surplus narrowing to 1.95 billion euros in the 8-month period from 2.28 billion in the 7-month, according to the preliminary data released by the Ministry of Finance (MoF).
Building activity falls 10.7 pct in June after brief rise in May
After a short-lived rise of 1.2 percent in May, the number of building permits issued in Greece fell by 10.7 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
Greek banks' Eurosystem funding declines by another 53 mln in August
Greek banks’ Eurosystem funding slipped by just 53 million euros in August - the slowest pace of decline in 2014, according to the Bank of Greece's (BoG) monthly financial statement.
Greek unemployment rate hovers at 27 pct in June
The seasonally adjusted jobless rate further slipped to 27 percent in June following a downward revised 27.1 percent recorded in May, according to the Hellenic Statistical Agency (ELSTAT).
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).