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Most Greeks saw income fall over last year, limiting purchasing power
SocietyThe results of a survey by the Labour Institute (INE) of the General Confederation of Greek Workers (GSEE), which was published on July 17, highlighted how salary earners’ purchasing power has been limited. The survey, conducted in cooperation with Alco...
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Greece sees tourist arrivals rise 12.6 pct in May but spending fall 10.6 pct
EconomyThe rate of increase in Greece's travel receipts significantly decelerated to 0.8 percent in May from 35.8 percent in April, according to the Bank of Greece (BoG). In absolute terms this corresponds to receipts of 1.07 billion euros. Travel payments, me...
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Greek economic sentiment and consumer confidence fall in August
EconomyMacroeconomyGreece’s economic sentiment deteriorated for the second straight month, easing to 101.9 points in August from 102.6 in July, according to the European Commission (EC). The reading remains above the 100-point mark for the third successive month. Despite ...
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Rate of credit contraction rises to 3.7 pct in July, balances fall
EconomyMacroeconomyThe rate of drop in Greek credit to the private sector accelerated to 3.7 percent in July from 3.5 percent in June, according to the Bank of Greece (BoG). Balances fell to 213.86 billion euros in July from 214.81 billion a month ago. Monthly net deducti...
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Greek economic sentiment and consumer confidence fall for third month in a row
EconomyMacroeconomyGreece’s economic sentiment (ESI) decreased for the third successive month at an accelerating pace, falling to 99.3 in September from 102 in August, according to the European Commission (EC). The September reading is the first below the 100-point mark f...
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Greek time deposit rates fall further in August
EconomyMacroeconomyThe interest rate on households’ new time deposits dropped by a further 15 basis points (bps) to 2.13 percent in August, according to the Bank of Greece (BoG). The year to date decline, which occurred over the last five months, reached 68 bps. In the 8-...
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Greek exports down 5.9 pct in August, imports also fall 16.4 pct
EconomyGreece’s exports continued heading south for the second successive month in August, dropping by 5.9 percent, according to the flash estimates of commercial transactions released by Hellenic Statistical Authority (ELSTAT) on Wednesday. The 12-month trail...
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Unpaid taxes for September fall to 1.03 bln but up 56.5 pct so far this year
EconomyMacroeconomyAfter peaking at 1.42 billion euros in August, the monthly rate of Greece’s unpaid taxes dropped to 1.03 billion in September, according to data provided by the General Secretariat of Information Systems (GSIS) on Tuesday. The September figure is simila...
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August trade deficit shrinks by 29.5 pct as imports fall faster than exports
EconomyMacroeconomyGreece’s trade deficit narrowed by 29.5 percent in August, after soaring by a similar rate in July, according to the Hellenic Statistical Authority (ELSTAT). The absolute figure showed the trade deficit in August fell to 1.23 billion euros, which is the...
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Apartment prices fall at slower rate of 7 pct in Q3
EconomyMacroeconomyThe rate of decline in apartment prices slowed for the fifth straight quarter to 7 percent in Q3 2014 from a revised 7.7 percent in Q2, according to the Bank of Greece (BoG). Nevertheless, the Q2 headline figure indicates the twenty-third successive neg...
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