Macroeconomy
Car sales pick up pace in May, up 13.8 pct in first five months
Road motor vehicles going into circulation for the first time accelerated in May, rising by 5.6 percent year-on-year (YoY), after slowing down to 1.1 percent in April, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday.
Fitch takes no rating action as fiscal continuity remains crucial to investment grade
Fitch took no action on Friday regarding Greece’s rating, re-affirming the country’s ‘BB+’ and keeping the outlook stable.
Industrial production rises by 4.2 pct in April thanks to growth in electricity supply
Greece’s Industrial Production Index (IPI) picked up pace in April, rising by 4.2 percent year-on-year (YoY), after an upwards revised growth of 0.1 percent in March, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
CPI growth stable at 2.8 pct in May, food inflation gathers pace at 11.6 pct
The rise in Greece’s Consumer Price Index (CPI) remained broadly unchanged in May, growing by 2.8 percent year-on-year (YoY), from 3 percent in April, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
OECD ups growth outlook for 2023, warns about headwinds affecting demand and consumption
The OECD has become the latest international organisation to incorporate the more positive outlook for the Greek economy into its projections, revising upwards its growth forecast for 2023, to 1.6 pct, from 1.1 pct in the January estimate.
Trade deficit narrows in April, though exports drop by 4.3 pct
Greece’s trade deficit recorded a significant drop of 22.9 percent year-on-year (YoY) in April, after a modest rise of 1.3 percent in March, according to data released by ELSTAT on Wednesday.
Annual GDP growth slows in Q1, contracts by 0.1 pct QoQ
Greece’s seasonally adjusted (SA) GDP decreased by 0.1 percent quarter-on-quarter (QoQ), from a downward revised 1.1 percent in the last quarter of 2022, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.
Unemployment stays at 11.2 pct in Apr, youth jobless down by 5 points at 27.4 pct
Greece’s seasonally adjusted (SA) unemployment rate was essentially unchanged in April, landing at 11.2 percent, from an upwards revised 11.1 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Manufacturing grows in May, but at slowest pace in last four months
Greece’s Manufacturing PMI remained in expansion territory in May, although it fell marginally to 51.5 points, from 52.4 points in April, according to S&P Global data released on Thursday.
March sees first retail sales fall for two years, volumes show consumption diving
Greece’s retail sales turned negative for the first time since 2021, with a marginal drop of 0.3 percent year-on-year (YoY) in March, from a downward revised rise of 9.8 percent in February, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.