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PM under pressure to account for destruction, as wildfires stoke anti-migrant sentiment
PoliticsGreek Politicsthe destruction wreaked by the Evia wildfires of 2021 to reach 144,000 hectares, according to data from the EU’s
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Income tax, VAT help generate 3.56 bln budget surplus in July as interest expenses exceed 5 bln
EconomyMacroeconomyThe budget primary balance in July was confirmed at a surplus of 3.56 billion euros, compared to a deficit of 1.16 billion euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Friday. In the first seven months of the year, the budget
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Building activity grows by 15.8 pct in May, up 11.5 pct in first five months
EconomyMacroeconomyBuilding permits recorded a decent movement in May, rising by 15.8 percent year-on-year (YoY), after a modest rise of 0.9 percent in April, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Monday. Permits have been growing annually this year except for February, which
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Warning from producer prices as most categories rise YoY in July, index up 1.4 pct MoM
EconomyMacroeconomyGreece’s Producer Price Index (PPI) contracted for the fifth successive month in July, dropping by 8.6 percent year-on-year (YoY), after falling by 11.7 percent in June, ELSTAT data showed on Wednesday. The index was in negative territory for most of 2020 and up to March 2021, when it grew annually
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Retails sales contract 1 pct in June, volumes fall as food dips by 6.2 pct YoY
EconomyMacroeconomyGreece’s retail sales turned negative in June, posting a drop of 1 percent year-on-year (YoY), after a solid rise of 7.8 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Thursday. The corresponding volume index recorded a sharp drop of 7.6 percent. June is the second negative
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Aug PMI marks seventh month of improved manufacturing conditions, cost pressures resume
EconomyMacroeconomyGreece’s Manufacturing PMI remained in expansion territory in August, marginally falling to 52.9 points, after a solid rebound to 53.5 points in July, according to S&P Global data released on Friday. This was the seventh straight month during which the conditions in the Greek manufacturing sector
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Hiring balance for 7M reaches record despite first negative July reading since 2019
PoliticsGreek PoliticsGreece’s employment balance in July turned negative by 8,294 more departures than hires, according to data from the Labour Ministry’s Ergani information system. The hiring balance in July last year was 2,999 more hires, suggesting a year-on-year deterioration of 11,293 jobs. Total hirings in July
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GDP grows by 1.3 pct QoQ in Q2, in line with growth estimates of 2+ pct for year
EconomyMacroeconomyGreece’s seasonally adjusted (SA) GDP moved up by 1.3 percent quarter-on-quarter (QoQ) in Q2, from a slightly upwards revised 0 percent in Q1, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday. The marginal revision of the previous quarter took away the 0.1
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CPI maintains upwards trend with 2.7 pct rise in Aug, food inflation at 10.7 pct
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) continued its upward trend in August with 2.7 percent year-on-year (YoY), after growing by 2.5 percent in June, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT). The average CPI for the rolling 12-month period in August
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Industrial production contracts again in July, as electricity supply drives 1.9 pct drop
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) recorded back-to-back contractions in July, falling by 1.9 percent year-on-year (YoY), after dropping by a downward revised 3.4 percent in June, according to Hellenic Statistical Authority (ELSTAT) data released on Friday. The index had been growing
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