Macroeconomy
Jobs in hotels, hospitality push April hirings balance to near-record level
Greece’s employment balance in April was positive by 123,079 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
EC doubles 2023 growth forecast to 2.4 pct, affirms 2.5 pct of GDP primary surplus next year
The European Commission upped its outlook on Greece for this year in its latest forecast published on Monday. It now expects the Greek economy to grow by 2.4 pct in 2023, from 1.2 seen in the previous estimate in February.
Budget primary surplus of 2.43 bln in April thanks to 1.64 bln tax outperformance
The budget primary balance came to a surplus of 2.34 billion euros in April, compared to a deficit of 799 million euros in the same period of 2022, according to the preliminary Finance Ministry (MoF) budget execution data released on Monday.
Import prices fall sharply by 12.7 pct in Mar, as energy drops by 28.4 pct
The contraction of Greece’s import price index accelerated in March, falling by 12.7 percent year-on-year (YoY), after dropping by 5.6 percent in February, according to data released by the Hellenic Statistical Authority (ELSTAT) on Monday.
BoG stresses need to avoid putting investment grade at risk
In its latest financial stability report published on Thursday, the Bank of Greece highlights the progress achieved in domestic banking and notes the challenges that lie ahead for the sector and the Greek economy.
Growth in car sales slows to 1.1 pct in April
Road motor vehicles going into circulation for the first time slowed down considerably in April, growing by 1.1 percent year-on-year (YoY), after rising strongly in March by 31.3 percent, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Industrial production drops 0.2 pct in March on back of 28.1 pct electricity supply decline
Greece’s Industrial Production Index (IPI) lost momentum in March as it decreased by 0.2 percent year-on-year, after it had picked up strength in February, rising by 5.2 percent according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
CPI moderates to 3 pct, but food inflation persists at 11.4 pct
The rise in Greece’s Consumer Price Index (CPI) decelerated further in April, with prices rising by 3 percent year-on-year (YoY), when it increased by 4.6 percent in March, according to the data released on Wednesday by the Hellenic Statistical Authority (ELSTAT).
Despite marginal rise in Mar, Q1 trade deficit down 19 pct, exports up 17.8 pct
Greece’s trade deficit recorded a rise in March, after back-to-back annual drops, rising by a modest 1.3 percent, after falling by 32.3 percent by February, according to data released by ELSTAT on Monday.
March unemployment falls by almost 2 points YoY to 10.9 pct, jobless numbers down to 2009 levels
Greece’s seasonally adjusted (SA) unemployment rate was marginally lower in March, edging down to 10.9 percent, after rising to 11.3 percent in February, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.