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Retail sales grow strongly in Aug with 5.3 pct YoY rise
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Energy drives producer prices down by 1.1 pct YoY Sep as all other components rise
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Economic sentiment picks up in Oct, consumer confidence sliding again
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Unemployment unchanged at 8.2 pct in Sep
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Business loans drive credit growth of 10.7 pct in Sep
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Corporate deposits propel savings increase to 208 bln in Sep
Data underlines Greece still has big wage gap to bridge
The issue of Greeks’ wages and spending power has become a thorn in the government’s side - aside from some data and research that place Greece at the bottom of EU tables in terms of real wages and purchasing power parity, the current administration has repeatedly pledged a rise of the average wage in Greece to 1,500 by the end of the term, currently standing just above 1,200 euros.
The Greek authorities have realised that the rises in the minimum wage that started in 2019 under the previous SYRIZA government and continued during this administration’s first term only had a narrow effect on overall earnings. The increases only apply...
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