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Growth of wages index slows to 3.9% YoY in Q2
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Economy holds steady in Q2 but autumn set to pose more and tougher tests
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Energy pushes import prices up by 10% in July
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Sharp drop in new passenger cars leads to 18.7% YoY decline for vehicle sales in Aug
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Despite manufacturing gains, industrial production drops by 1.2% YoY in July
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Inflation picks up pace in August, rising to 3.8% YoY
Incorporating impact of Ukraine war, EC revises growth forecast down to 3.5 pct
In its spring forecasts, published on Monday, the European Commission incorporated the impact of the conflict in Ukraine on the growth outlook for the eurozone, with the Greek growth rate for this year now revised down to 3.5 pct, from the 4.9 pct included in the winter forecast published in February.
Although the inflationary pressures will weigh on real disposable income for households, the full recovery of tourism will offset this impact, leading to more subdued but solid growth in 2022.
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