Macroeconomy
Timing factors, underspend lead to budget outperformance of 4.54 bln in 2023
The budget primary balance came to a surplus of 3.69 billion euros for the full year in December, compared to a deficit of 6.65 billion euros in 2022, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Monday.
Import prices continue to contract in Nov, but at lower pace of 8.6 pct
Greece’s import price index continued to contract in November, though at a slower pace than the previous month, as it fell by 8.6 percent year-on-year (YoY), after dropping by 13.4 percent in October, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Car sales jump by 30.1 pct in Dec, marking 16.1 pct rise in 2023
Road motor vehicles going into circulation for the first time recorded another solid growth rate in December, growing by 24.8 percent year-on-year (YoY), after a 24.3 percent rise in November, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Inflation accelerates to 3.5 pct in Dec, food prices jump further
The growth in Greece’s Consumer Price Index (CPI) picked up pace in December, with a 3.5 pct increase year-on-year (YoY), after rising by 3 pct in November, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Growth in industrial production slows to 3.1 pct YoY in Nov, contracts MoM
Greece’s Industrial Production Index (IPI) slowed down in November, growing by 3.1 percent year-on-year (YoY), after a 10.5-percent rise in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Wednesday.
Trade deficit narrows further in Nov, at 28.46 bln in 11M
Greece’s trade deficit recorded a drop of 28.6 percent year-on-year (YoY) in November, after a decline of 32 percent in October, according to data released by ELSTAT on Tuesday.
Economic sentiment slides by 0.4 pts again in Dec, consumer confidence improves
Greece’s economic sentiment (ESI) experienced another marginal drop of 0.4 points in December, the same decline as in the previous month, falling to 106 points overall, according to European Commission figures released on Monday.
Dependency on tourism highlighted by negative hiring balance of 82,463 in Nov
Greece’s employment balance stayed negative in November, with 82,463 more departures than hires, according to data from the Labour Ministry’s Ergani information system.
Unemployment rate stays below 10 pct in Nov as inactive numbers rise
Greece’s seasonally adjusted (SA) unemployment rate remained below 10 percent in November, landing at 9.4 percent, after a slightly downwards revision to 9.4 percent in October, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Fuelled by drop in corporate deposits, Nov outflow at 904 mln
The net private sector deposits in the Greek banking system contracted strongly in November, with a 904-million-euro outflow, after a negative movement of 2.14 billion euros in October, based on the latest Bank of Greece (BoG) figures released on Tuesday.