Macroeconomy
Significant underspend pushes 8M primary balance to 7.57 bln
The budget primary balance recorded a surplus of 7.57 billion euros by August, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Tuesday.
Import prices drop by 1.6 pct YoY in Jul due to energy, as all other categories rise
Greece’s import price index turned into contraction in July, dropping by 1.6 percent year-on-year (YoY), after a 4.4 percent rise in June, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Sharp drop in new car sales as vehicle registrations decrease by 5.8 pct in Aug
Road motor vehicles going into circulation for the first time dropped by 5.8 percent year-on-year (YoY) in August, after a rise of 13.8 percent in July, according to Hellenic Statistical Authority (ELSTAT) data released on Thursday.
Wages index rises by 8 pct YoY in Q2, taking growth to more than 2 years
Greece’s seasonally adjusted (SA) Wages Index maintained a solid growth trend in Q2, rising by 8 percent year-on-year (YoY), from 7.4 percent growth in the first quarter of 2024, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Property prices see steady increase of 9.2 pct in Q2, pace of rise moderates further
The growth in the nominal value of apartments in Greece continued at a steady pace in the second quarter of 2024, increasing by 9.2 percent year-on-year (YoY) from an upwards revised 10.6 percent in Q1 2024, Bank of Greece (BoG) data released on Tuesday showed.
Industrial Production grows 10.6 pct in Jul as electricity and manufacturing lead way
Greece’s Industrial Production Index (IPI) grew in July by 10.6 percent year-on-year (YoY), after a 9.9 percent increase in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday.
CPI at 3 pct in Aug, on upward trajectory for three straight months
The growth in Greece’s Consumer Price Index (CPI) picked up further pace in August with a rise of 3 percent year-on-year (YoY), after an increase of 2.7 percent in the previous month, according to the data released on Tuesday by the Hellenic Statistical Authority (ELSTAT).
DBRS keeps rating at BBB, ups outlook and sees upgrades if conditions improve
DBRS kept Greece’s rating unchanged at BBB (Low) on Friday, while it upped its outlook to positive from stable. DBRS was the first agency to grant the investment grade in September last year, although it was overshadowed by the extensive damage caused by Storm Daniel.
Finance Ministry's defence of economic record highlights area of policy weakness
The Greek government pulled out all the stops over the last couple of weeks in an attempt to defend its economic record, culminating in the Finance Ministry presenting a document outlining the seven areas in which Greece is outperforming its eurozone peers.
Weak exports to EU markets drive 9.6 pct rise in 7M trade deficit
Greece’s trade deficit recorded a rise of 6.6 percent year-on-year (YoY) in July, after a drop of 9.8 percent in June, according to data released by ELSTAT on Friday.