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Inflation slows to 11.6 pct in July as housing and transport costs rise sharply
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Trade deficit soars by 71.6 pct in H1, reaching 17.59 bln
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Impact of uncertainty on economy starting to emerge in hard data
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Manufacturing slips into contraction for first time since early 2021 as PMI drops by 2 pts in July
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Producer prices climb by 39.9 pct in June, but record first back-to-back monthly drops since 2020
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Monthly and volume retail sales data shrink in May, reflecting cost-of-living crisis
IMF sees 2020 GDP contraction at 10 pct, budget deficit at 9 pct due to virus impact
The IMF released on Tuesday its latest economic estimates in the context of the World Economic Outlook, which has incorporated the impact of what it calls The Great Lockdown that sees global GDP dropping by 3 pct in 2020, subject to various uncertainties.
The Fund joins the list of organisations and investment houses that see the pandemic having a severe effect on the Greek economy, extracting a double-digit toll on economic activity. The forecast on contraction for this year is at -10 pct.
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