Macroeconomy
Trade balance worsens as Aug produces 43.3 pct deficit on back of pick-up in non-EU activity
Greece’s trade deficit increased by 43.3 percent year-on-year (YoY) in August, following a 28.9 percent increase in July according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
CPI rises by 2.2 pct in Sept as prices shoot up at highest rate since 2012
Greece’s Consumer Price Index (CPI) continued its march in September, increasing by 2.2 percent year-on-year (YoY), after a 1.9 pct rise in August, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
Industrial production up 10.1 pct in Aug, marking 10-month recovery
Greece’s Industrial Production Index (IPI) rose by 10.1 percent year-on-year (YoY) in August, following an increase of 7.8 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Draft 2022 budget represents first attempt to restore post-pandemic fiscal order
Following two years during which Greece was allowed, thanks to the SGP escape clause, to run substantial deficits to protect its economy from the impact of the pandemic, 2022 sees some sense of fiscal order returning based on the draft budget submitted to Parliament on Monday.
Debt strategy for 2022 set to continue along this year's steady path, assisted by PEPP
Following two years during which the pandemic forced the Greek authorities to provide extensive support packages that pushed up the debt both in nominal terms and as a percentage of GDP, the draft 2022 budget anticipates the debt-to-GDP ratio resuming a downward path.
FinMin tables recovery budget, foreseeing across-the-board improvement in key numbers
The Finance Ministry submitted to Parliament on Monday the draft budget for 2022 in which Greece is seen leaving behind the impact of the pandemic.
Manufacturing growing at steady pace despite supply chain, inflation issues
Greece’s manufacturing PMI dropped slightly to 58.4 in September, from 59.3 points in August, according to Markit data released on Friday.
Retail sales jump 13.3 pct in Jul to extend growth period to four months
Greece’s retail sales growth accelerated in July, rising by 13.3 percent year-on-year (YoY), from an upwards revised 12.2 percent in June, Hellenic Statistical Authority data showed on Thursday.
Economic sentiment drops off in Sept as consumer confidence falls for fourth month
Following a series of rises, Greece’s economic sentiment (ESI) dropped in September by 3.3 points month-on-month to 109.7 points, from a rise of 1.8 points in August, according to European Commission figures released on Wednesday.
August sees first negative hirings balance of year
Greece’s employment balance in August turned negative as there were 9,875 more departures than hirings, from a positive balance of 24,395 in July, according to data from the Labour Ministry’s Ergani information system.