Macroeconomy
Clarity over fiscal space clears way for next set of relief measures
Greece’s fiscal outlook became clearer this week along with the ability of the Greek government to implement more voter-friendly policies as it attempts to restore its relations with the electorate.
Electricity drives drop of 4.3 pct YoY in Apr industrial production
Greece’s Industrial Production Index (IPI) fell sharply in April with a drop of 4.3 percent year-on-year (YoY), after a rise of 1.6 percent in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Monday.
CPI increases to 2.5 pct YoY in May, housing costs soar by 6 pct
Greece’s Consumer Price Index (CPI) picked up pace in May with a rise of 2.5 percent year-on-year (YoY) in May, from 2 percent in the previous month, according to the data released on Monday by the Hellenic Statistical Authority (ELSTAT).
Trade data captures reflects challenges as exports fall 14.5 pct in Apr
Greece’s trade deficit dropped by 6.9 percent year-on-year (YoY) in April, after a sharp rise of 25.3 percent in March, according to data released by ELSTAT on Friday.
Q1 GDP virtually unchanged with just 0.04 pct QoQ growth, investments drop sharply
Greece’s seasonally adjusted (SA) GDP was virtually unchanged in Q1, rising by 0.04 percent quarter-on-quarter (QoQ), from a 0.8 percent increase in Q4, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
Quarterly unemployment edges up to 10.4 pct in Q1 on back of seasonal factors
Greece’s non-seasonally adjusted quarterly unemployment rate picked up in Q1, rising to 10.4 percent, from 9.5 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Accommodation and hospitality drive April hiring balance to highest on record
Greece’s employment balance was strong as is usually the trend in April with 133,907 more hires than departures in April, according to data from the Labour Ministry’s Ergani information system.
OECD sees stable growth path of 2 pct in 2025, long-term challenges persist
The OECD published on Tuesday its latest economic outlook, which sees a stable growth path for Greece, broadly in line with the latest estimates by most organisations and the Greek authorities.
Deposits slide by 795 mln in Apr, dropping to 198.37 bln
The contraction in the Greek banking system’s private sector deposits resumed in April, with a net decrease of 795 million euros, after a 2.41-billion-euro rise in March, according to the latest Bank of Greece (BoG) figures released on Friday.
Credit growth stays strong in April with 10.9 pct YoY rise, credit to corporations stalls MoM
The credit expansion in the Greek private sector remained strong in April, rising by 10.9 percent year-on-year (YoY), from 10.3 percent in the previous month, Bank of Greece (BoG) figures released on Friday showed.