Macroeconomy
Import prices reach one year of contraction with 6.4 pct drop in Jan
Greece’s import price index stayed in contraction in January, falling by 6.4 percent year-on-year (YoY), after dropping by 8.7 percent in December, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Vehicle sales rise by 17.3 pct in Feb, led by passenger cars
Road motor vehicles going into circulation for the first time had a strong growth rate of 21.2 percent year-on-year (YoY) in February, after an 8.6 percent rise in January, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
Underwhelming GDP highlights investment falling short of mark
The signs that the Greek economy has been slowing were evident in previous GDP releases for 2023, as minor movements were recorded during the year and, after the latest revision, the first quarterly drop was seen in Q3. There was a minor 0.1 pct contraction, not seen since Q2 2020 when the pandemic dealt a serious blow to the economy.
Industrial production grows by 10.3 pct in Jan, boosted by electricity supply
Greece’s Industrial Production Index (IPI) accelerated further in January, growing by 10.3 percent year-on-year (YoY), after a 4.5-percent rise in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Trade deficit rises by 2.7 pct in Jan, as exports continue to fall sharply
Greece’s trade deficit recorded a rise of 2.7 percent year-on-year (YoY) in January, after a decline of 11.3 percent in December, according to data released by ELSTAT on Friday.
CPI at 2.9 pct in Feb, food prices up by 6.7 pct
The growth in Greece’s Consumer Price Index (CPI) slowed down marginally in February, with a rise of 2.9 percent year-on-year (YoY), after an increase of 3.1 percent in January, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Labour market comes to rest, unemployment at 10.5 pct in Q4
Greece’s non-seasonally adjusted quarterly unemployment rate moved only marginally in Q4 last year, dropping to 10.5 percent, from 10.8 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
GDP continued to slow in Q4, rise for 2023 at 2 pct
Greece’s seasonally adjusted (SA) GDP had marginal gains in Q4, rising by 0.2 percent quarter-on-quarter (QoQ), from a 0.1 percent drop in Q3, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
Despite slowdown, Q4 property price rise pushes 2023 increase to 13.4 pct
The growth in the nominal value of apartments in Greece stayed strong in the last quarter of 2023, increasing by 11.8 percent year-on-year (YoY) from an upwards revised 12.1 percent in Q3 2023, Bank of Greece (BoG) data released on Tuesday showed.
Catering and retail contribute to worst employment balance on record in Jan
Greece’s employment balance was negative in January, with 31,977 more departures than hires, according to data from the Labour Ministry’s Ergani information system.