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Tourism shows resilience despite geopolitical uncertainty as May arrivals and revenues rise
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Record travel receipts and narrower trade deficit reflected in current account up to May
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Energy and domestic market drive industrial turnover growth of 14.1% YoY in May
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Primary surplus up to June at 4.48 bln as taxes continue to outperform, spending contained
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Energy continues to drive import prices as May sees 13.3% YoY rise
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New passenger cars push June sales to highest since 2010
Underwhelming GDP highlights investment falling short of mark
The signs that the Greek economy has been slowing were evident in previous GDP releases for 2023, as minor movements were recorded during the year and, after the latest revision, the first quarterly drop was seen in Q3. There was a minor 0.1 pct contraction, not seen since Q2 2020 when the pandemic dealt a serious blow to the economy.
The QoQ movement in Q1 was unchanged, it was up by 1.1 pct in Q2 and the economy had marginal gains of 0.2 pct in the last quarter of 2023.
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