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Building permits rise by 12 pct in July as construction picks up
EconomyMacroeconomyBuilding permits rose by 12 percent year-on-year (YoY) in July compared to a rise of 17 percent in June, Hellenic Statistical Authority (ELSTAT) data released on Monday showed. The total number of permits came to 2,116. The corresponding surface area ro...
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Economic sentiment up to 92.3 in October, consumer confidence drops for fourth consecutive month
EconomyMacroeconomyGreece’s economic sentiment (ESI) rose by 2.8 points month-on-month in October to reach 92.3 points, European Commission (EC) figures showed on Thursday. In October, the Employment Expectations Indicator (EEI) for Greece came to 106.6 points compared to...
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Building permits drops by 3.3 pct in Aug, up by 13.7 pct in 8-month period
EconomyMacroeconomyBuilding permits fell by 3.3 percent year-on-year (YoY) in August compared to a rise of 12 percent in July, Hellenic Statistical Authority (ELSTAT) data released on Thursday showed. The total number of permits came to 1,294. The corresponding surface ar...
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Wages index up by 3 pct YoY in Q3 2020, declines by 1.5 pct QoQ
EconomyMacroeconomyGreece’s seasonally adjusted (SA) Wages Index turned positive by 3 percent year-on-year (YoY) in the third quarter (Q3) of 2020, following a revised rise of 3.9 percent in Q2, Hellenic Statistical Authority (ELSTAT) figures revealed on Friday. The wages...
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Credit growth in November edges up to 2.6 pct, approaching 2010 high
EconomyMacroeconomyCredit movement in the Greek private sector rose by 2.6 percent in November after an increase of 2.5 percent in October, Bank of Greece (BoG) figures showed on Tuesday. The increase in credit growth is now approaching the previous high of 2.7 percent no...
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PMI dips to 49.4 points in February as cost burdens pile up
EconomyMacroeconomyGreece’s manufacturing PMI dropped to 49.4 points in February from 50 points in January, according to the latest data from Markit. According to Markit, readings over 50 indicate overall improvement, meaning that the latest figure signals worsening of op...
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Banks intensify balance-sheet clean up with securitisations, new bonds
EconomyBankingPiraeus Bank and Alpha Bank are both moving forward with actions this week to continue strengthening their balance sheets, with the former extending its ongoing partnership with Swedish loan servicer Intrum AB. Piraeus signed a binding agreement with In...
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Industrial production up by 3.4 percent in January
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) rose by 3.4 percent year-on-year (YoY) in January following a revised increase of 3.5 percent in December, Hellenic Statistical Authority (ELSTAT) data revealed on Wednesday. Month-on-month (MoM), the index dro...
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Wages index up by 4.5 pct YoY in Q4 2020, rises by 3.1 pct QoQ
EconomyMacroeconomyGreece’s seasonally adjusted (SA) Wages Index increased 4.5 percent year-on-year (YoY) in the fourth quarter (Q4) of 2020, following a rise of 3 percent in Q3, Hellenic Statistical Authority (ELSTAT) figures revealed on Wednesday. The wages index captur...
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Parties square up for all-out battle over upcoming labour bill
PoliticsGreek PoliticsParties in Greece are preparing to do battle, as New Democracy’s long-anticipated labour bill looks set to be tabled for debate in Parliament after Greek Easter in early May. The legislation, which the government touts as a modernising reform for the be...
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