Economy
DBRS keeps rating at BBB, ups outlook and sees upgrades if conditions improve
DBRS kept Greece’s rating unchanged at BBB (Low) on Friday, while it upped its outlook to positive from stable. DBRS was the first agency to grant the investment grade in September last year, although it was overshadowed by the extensive damage caused by Storm Daniel.
Finance Ministry's defence of economic record highlights area of policy weakness
The Greek government pulled out all the stops over the last couple of weeks in an attempt to defend its economic record, culminating in the Finance Ministry presenting a document outlining the seven areas in which Greece is outperforming its eurozone peers.
Weak exports to EU markets drive 9.6 pct rise in 7M trade deficit
Greece’s trade deficit recorded a rise of 6.6 percent year-on-year (YoY) in July, after a drop of 9.8 percent in June, according to data released by ELSTAT on Friday.
GDP up by 1.1 pct QoQ, needs 2.8 pct growth in H2 to reach annual forecast
Greece’s seasonally adjusted (SA) GDP accelerated its gains in Q2, rising by 1.1 percent quarter-on-quarter (QoQ), from a 0.8 percent rise in Q1, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
Boosted by seasonal factors, quarterly unemployment drops below 10 pct for first time since 2009
Greece’s non-seasonally adjusted quarterly unemployment rate fell sharply in Q2, dropping to 9.8 percent, from 12.1 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Further loss of manufacturing momentum in Aug, optimism at lowest since 2022
Greece’s Manufacturing PMI continued to moderate in August, dropping to 52.9 points, from 53.2 points in July, according to S&P Global data released on Monday.
Producer prices record first rise for 16 months, inching up by 0.1 pct in Jul
Greece’s Producer Price Index (PPI) recorded a positive movement in July, rising by 0.1 percent year-on-year (YoY), after falling by 0.7 percent in June, ELSTAT data showed on Friday.
Retail sales rise by 7.4 pct YoY in June, led by fuels
Greece’s retail sales continued growing in June with a 7.4 percent year-on-year (YoY) rise, after an increase of 14.3 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment slides further in Aug, consumer confidence drops sharply
Greece’s economic sentiment (ESI) contracted further in August, reaching 106.3 points, from 106.8 in the previous month, according to European Commission figures released on Thursday.
Unemployment rate edges up to 9.9 pct in July
Greece’s seasonally adjusted (SA) unemployment rate remained below the 10 percent mark in July, though rising to 9.9 percent, from 9.5 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.