Macroeconomy
Wages index down by 1.9 pct in Q1, records back-to-back annual drops
Greece’s seasonally adjusted (SA) Wages Index stayed in negative territory in the first quarter of 2022, dropping by 1.9 percent year-on-year (YoY), after a revised drop of 1.5 percent in the last quarter of 2021, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Quarterly unemployment rises to 13.8 pct in Q1, reflecting off season for tourism
Greece’s non-seasonally adjusted quarterly unemployment rate maintained an upward trajectory in the first quarter of the year, rising to 13.8 percent, from 13.2 percent in Q4 2021, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Budget primary balance to May beats target by wide margin, taxes continue to outperform
The budget primary balance for the first five months of 2022 came to a deficit of 1.49 billion euros, compared to a deficit of 8.14 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Wednesday.
Import price index posts record rise of 39.1 pct in Apr, driven by energy
Greece’s import price index continued at an accelerated pace in April, posting another solid rise of 39.1 percent year-on-year (YoY), from 34.6 percent in March, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
Unemployment rate steady at 12.5 pct in Apr, employment continues to grow YoY
Greece’s seasonally adjusted (SA) unemployment rate dropped marginally to 12.5 percent in April, from an upwards revised 12.6 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Property prices continue on upward trajectory with 8.6 pct rise in Q1
The rise in the nominal value of apartments in Greece slowed slightly to 8.6 percent year-on-year in Q1 of this year, from an upwards revised 9.5 percent in the last quarter of 2021, Bank of Greece (BoG) data released on Tuesday showed.
Vehicle registrations up by 21.3 pct in May, led by cars
Road motor vehicles going into circulation for the first time increased by 21.3 percent year-on-year (YoY) in May, picking up pace from the rise of 1.9 percent in April, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Industrial production drops by 4.5 pct YoY in Apr as electricity supply falls by almost 30 pct MoM
Greece’s Industrial Production Index (IPI) halted its recovery in April, dropping by 4.5 percent year-on-year (YoY), after rising by an upwards revised 8.1 percent in March, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday.
CPI leaps by 11.3 pct in May as food and energy prices rise
Greece’s Consumer Price Index (CPI) continued its record-breaking rise in May, increasing by 11.3 percent year-on-year (YoY), from 10.2 percent in April, according to the data released on Thursday by the Hellenic Statistical Authority (ELSTAT).
OECD lowers 2022 growth forecast to 2.8 pct as challenges mount
The OECD revised down its growth forecasts for Greece for 2022 amidst surging global inflation, heightened uncertainty, and tighter monetary policy conditions.