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  1. Q2 GDP contraction at 0.3 pct, strong Q3 needed to achieve target of annual growth
    Photo by MacroPolis

    EconomyMacroeconomy

    Greek non-seasonally-adjusted GDP contracted 0.3 percent year on year (YoY) in the second quarter... that the recession reached 0.7 percent in the first half (H1) of the year. At current prices, GDP fell 2.6 percent... forecasts foresee a 5.3 percent rise in 2014 after a 12.8 percent drop last year. Taking into account

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  2. Greek primary budget surplus eases to 1.95 bln on back of lower revenues in Aug
    Photo by MacroPolis

    Economy

    by 101 and 205 million euros respectively. Compared to the figures recorded last year, the primary... year’s numbers are not comparable with the respective items for 2014 since they incorporate SMP... by Kathimerini daily revealed that the outcome of the settlement of this year’s income tax

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  3. Seasonal jobs bring down Q2 unemployment to 26.6 pct but long-term jobless rising
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    EconomyMacroeconomy

    The non-seasonally-adjusted unemployment rate posted a drop both year on year (YoY) and quarter... million from 1.33 million last year. The figure for unemployed fell below the 1.3-million mark... to 40 percent. In contrast, the other two age groups (30-44 and 45-64 year) showed a stable

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  4. Tourist arrivals up 23.5 pct in October as 2014 overall target rises to 23 mln
    Photo by MacroPolis

    Economy

    million released in early September. This is the third upgrade this year from SETE’s initial forecast..., up by 17 percent on last year’s figure of 17.9 million. Cruise arrivals, which were initially expected to remain stagnant in 2014, rose by 100,000 in the first half of the year, while are now seen

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  5. Primary surplus narrows to 2.4 bln in October as revenues miss target

    Economy

    by the Ministry of Finance (MoF). Compared to the targets, the year to date figure shows a shortfall of 44 million... with last year’s figures shows that the primary and budget surplus are lower by 7.1 and 8.8 percent respectively. Note though that the year on year comparison is not fully applicable, since last year’s

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  6. Q3 unemployment falls to 25.5 pct, lowest since 2012, but long-term jobless reach new high
    Photo by MacroPolis

    EconomyMacroeconomy

    and displayed the unemployment rate eased to 25.7 percent in September from 26 percent in August. The year on year (YoY) improvement by 1.7 percentage points (pp) in Q3 unemployment derives from a 6.9 percent... to 39.7 percent. The other two age groups (30-44 and 45-64 year) displayed a much smoother decrease

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  7. General government cash surplus widens to 3.68 bln in November, arrears down by 502 mln

    EconomyMacroeconomy

    in the 11-month period of 2014, 2.4 times above the 1.53 billion in the corresponding period last year... cash deficit shrank by more than 2.7 billion year on year to 1.77 billion from 4.49 billion last year... budget surplus at 1.83 billion, corresponding to almost half of total. Last year state budget had posted

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  8. Collapse in revenues brings 2014 primary surplus to 1.9 bln, 3 bln short of target
    Photo by MacroPolis

    Economy

    , the year to date primary surplus outperformance of 691 million by the end of November turned to an underperformance of 3.01 billion for the whole year. The worsening performance in December reflects... Investment Budget (PIB) expenditure (+1.6 billion MoM). For the full year, the actual figures showed

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  9. Greek current account deficit grows in Dec, 2014 surplus at 1.66 bln

    EconomyMacroeconomy

    , when it reached 870 million euros, which was more than 3.5 times higher than last year’s figure... in December from surplus of 20.8 million last year. Travel receipts rose by a mere 1 percent last... for the month. Despite the negative C/A balance in the last quarter of the year, the full year figure

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  10. Unemployment rate edges up to 26.1 pct in Q4 2014

    EconomyMacroeconomy

    years and mainly reflected the seasonal positive impact from tourism. One year ago, the jobless rate... in December from 25.9 percent in the prior two months. The year on year (YoY) improvement by 1.7 percentage... and 23.7 percent a year ago. The number of ‘long-term’ (more than 1 year) unemployed dropped

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