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High energy prices fuel uncertainty on fiscal front
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Output and new orders drop to lowest since Mar 2021, forcing PMI down by 2.7 pts
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Deposit rise of 1.3 bln in May led by corporates as household savings drop
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Economic sentiment drops by 3.7 pts in June as all components deteriorate
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Jan-May primary budget deficit contained at 1.49 bln on back of property tax, VAT intakes
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Seasonal jobs account for 7 in 10 hirings as balance nears 100,000 in May
OECD sees economy picking up from second half of 2016, underlines need for reforms
In its latest economic outlook published on Wednesday, the OECD says it expects the Greek economy to recover in the second half of 2016.
The Paris-based think-tank also stresses the need for full implementation of structural reforms incorporated in the third bailout programme to boost productivity and growth.
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