Economy
Manufacturing wage cuts were turned into profit, GSEE study claims
A study by the General Confederation of Greek Workers (GSEE) has stated that lower wages during the crisis resulted in greater profit margins for companies rather than lowering prices.
Building activity up by 12.6 pct in November, permits remain above 1,000
Building permits increased by 12.6 percent in November, slowing from October’s rise of 16.4 percent, Hellenic Statistical Authority (ELSTAT) data released on Monday showed.
Athens facing final steps in third review as next milestones identified
The countdown to next Monday’s Eurogroup, where the third review is due to be officially completed has begun following last week’s visit to Athens by European Economic Affairs Commissioner Pierre Moscovici, who also set out the key milestones for the months ahead.
Athens meets bond targets despite testing market conditions
On Friday afternoon, one day after the successful completion of the bond issue, the Greek Finance Ministry provided the details of the transaction for the 3 billion notes due 15 February 2025.
Car sales rise by 44.3 pct in January
Road motor vehicles going into circulation for the first time rose by 44.3 percent in January, increasing from the 16.1 percent growth seen in December, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Moscovici upbeat in Athens, highlights elements needed for programme exit
European Economic Affairs Commissioner Pierre Moscovici had several messages to deliver during his visit to Athens, which focussed mostly on what needs to happen over the next few months to ensure that Greece completes the third programme without any problems.
Industrial production grows by 0.2 pct in Dec and 4.1 pct for full year
Greece’s Industrial Production Index (IPI) increased by 0.2 percent in December after November’s figure was revised upward to 2 percent, Hellenic Statistical Authority (ELSTAT) data revealed on Friday.
Greece issues 7-year bond, moves closer to wrapping up third review
Following a small delay due to the turmoil in international markets earlier in the week, Greece opened on Thursday the book of offers for a syndicated seven-year bond.
Unemployment rate at 20.9 pct in November, slight upward revision for October
Greece’s seasonally adjusted (SA) unemployment rate came to 20.9 percent in November after October’s figure was revised upward to 20.9 percent, Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
Commission keeps outlook on Greece stable, sees growth picking up this year
In the winter forecast it published on Wednesday, the European Commission kept unchanged its projections for Greece, which see real GDP growing by 1.6 percent in 2017 and by 2.5 percent this year and next.