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Growth in retail sales loses steam as index shrinks by 0.2 pct MoM in Jan
EconomyMacroeconomyGreece’s retail sales slowed down the annual recovery in January, rising by 13.9 percent year-on-year (YoY), from an upwards revised 24 pct, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. It should be noted that Greece’s second lockdown was introduced in November 2020, so
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Oil drives up trade deficit by 171.8 pct in Feb for highest rise since 2010
EconomyMacroeconomyGreece’s trade deficit continued growing in February, nearly tripling year-on-year, up by 171.8 percent, from a jump of 98.7 percent in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday. The deficit came to 3.13 billion euros for the month. Imports
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BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
EconomyIn the governor’s annual report released on Thursday, the Bank of Greece (BoG) assesses the impact of the Ukraine conflict on Greek macro data, with the baseline scenario of growth now lower by one percentage point and inflation notably higher. BoG presents two scenarios. The baseline sees growth
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CPI shoots up by 8.9 pct YoY and 2.7 pct on previous month
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) picked up more pace in March, rising by 8.9 percent year-on-year (YoY), from a 7.2 percent increase in February, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT). The average CPI for the rolling 12-month period increased
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Growth in car sales slows to 7.6 pct in March
EconomyMacroeconomyRoad motor vehicles going into circulation for the first time increased by 7.6 percent year-on-year (YoY) in March, slowing down from the notable 38.3 percent rise in February, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday. In March 2021, the year-on-year change
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Employment balance stays positive in Mar, Q1 underperforms YoY
EconomyMacroeconomyGreece’s employment balance stayed positive in March with 34,373 more hirings than firings, according to data from the Labour Ministry’s Ergani information system. The balance was also positive in February due to 15,189 more hirings than departures. The balance in March last year was positive
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Energy products lead rise as import price index escalates by 27.2 pct in Feb
EconomyMacroeconomyGreece’s import price index posted another solid rise of 27.2 percent year-on-year (YoY) in February, after shooting up by 31.8 percent in January, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday. Month-on-month, the index also increased by 2.7 percent, after
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Newsletter 335 - 15/04/2022
reflected on the latest data from the Independent Authority for Public Revenue on unpaid tax obligations
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Primary budget deficit at 1.69 bln euros in Q1 as tax revenues continue to overperform
EconomyMacroeconomyThe budget primary balance for the first three months of 2022 came to a deficit of 1.69 billion euros, compared to a deficit of 3.41 billion euros in the same period last year, according to the preliminary Finance Ministry (MoF) budget execution data released on Tuesday. The primary balance
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Current account deficit for Jan-Feb at 4.12 bln, significantly higher than 2021
EconomyMacroeconomyGreece posted a current account (C/A) deficit of 2.12 billion euros in February, from 1.99 billion euros in January, Bank of Greece (BoG) data showed on Wednesday. In February 2021, the balance showed a deficit of 761.7 million euros, while in February 2020 the current account posted a deficit
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