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Manufacturing stays in expansion in Sep despite slight PMI moderation
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Rises in refined oil products push producer prices up by 14.9% YoY in August
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Retail sales on the up with 6.6% YoY growth in July
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Unemployment rate drops further to 7.4% in August
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Economic sentiment slightly improves in Sep, as recovery in consumer confidence continues
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Building activity rebounds strongly with 21.5% YoY rise in June
Pension policy U-turn highlights government’s election concerns
There are increasing signs that the upcoming elections are playing a dominant role in the Greek government’s decision‑making process, and last week’s decision to scrap an intervention on bereavement support (known in Greece as “widows’ pensions”) sends a strong signal that the prospect of calling snap polls after the summer is not a remote possibility.
The pension reform implemented by the previous SYRIZA‑led administration, known as the Katrougalos law, stipulated that widows who either work or receive another pension should see their benefit fall from 70% to 35% of the deceased person’s pension.
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