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Greek primary budget surplus halved in Jan as revenues miss target
EconomyGreece’s budget execution showed the primary surplus halving to 443 million euros in January from 835 million last year, according to the Finance Ministry (MoF) preliminary budget bulletin published on Thursday. This was the first bulletin released by t...
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Greek industrial turnover plummets by 8.9 pct in Dec as manufacturing suffers
EconomyMacroeconomyThe Turnover Index in Industry headed south for the second straight month in December but at an accelerating pace of 8.9 percent from 0.7 percent in November, according to the Hellenic Statistical Authority (ELSTAT). This is the second highest monthly d...
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Sharp rise for Greek consumer confidence in Feb, economic sentiment also up
EconomyMacroeconomyAfter falling in the preceding two months, Greece’s economic sentiment (ESI) rebounded by 2.9 points to 98.2 in February from 95.3 in January, according to the European Commission (EC). However, February’s figure is the second lowest reading since May 2...
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Greek retail trade turnover index declined by 3.7 pct in December
EconomyMacroeconomyThe turnover of Greece’s retail trade index dropped for the second straight month in December, at an accelerating pace of 3.7 percent from a revised 1.4 percent decline in November, according to the Hellenic Statistical Agency (ELSTAT). The December rat...
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Greek manufacturing PMI virtually unchanged in Feb as uncertainty bites
EconomyMacroeconomyGreece’s Manufacturing PMI rose by just 0.1 points in February to 48.4 from 48.3 in January, according to Markit. This is the eighth sub-50 point reading in the last nine months. Despite faster decreases in both output and new orders, stronger growth in...
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Greek unemployment rate ends 2014 at 26 pct, the first uptick since Sep 2013
EconomyMacroeconomyThe seasonally adjusted (SA) unemployment rate rose to 26 percent in December from an upward revised 25.9 percent in November, according to the Hellenic Statistical Agency (ELSTAT). This was the first uptick in the headline figure since September 2013. ...
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Greek gov't targets unpaid social security contributions: The numbers involved
EconomyThe government recently tabled for public consultation a draft bill on the settlement of unpaid tax and social security contributions (SSC). Both interventions are among the government’s key priorities to boost revenues and reverse the negative trend in...
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Greek central gov’t cash surplus shrinks 70 pct to 503 mln by February
EconomyMacroeconomyGreece’s central government primary cash balance showed a surplus of 503 million in the first two months of 2015 down by 70 percent on last year’s figure of 1.68 billion, according to the Bank of Greece (BoG). The central government net balance posted a...
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Greek gov't tables draft law on installments for unpaid taxes: Here's what's in it
EconomyMacroeconomyThe Finance Ministry (MoF) tabled in Parliament on Wednesday evening the draft bill for the “rebooting of the economy”, which mainly includes the government’s intervention for the settlement of tax and social security contribution (SSC) arrears. This is...
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Greek PMI edges up in March but exports, factory output fall
EconomyMacroeconomyGreece’s Manufacturing PMI improved for the second straight month by 0.5 points to 48.9 in March from 48.4 in February, according to Markit. However, the March headline figure remained below the 50-point mark for the seventh successive month, while the ...
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