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Dependency on tourism highlighted by negative hiring balance of 82,463 in Nov
EconomyMacroeconomyGreece’s employment balance stayed negative in November, with 82,463 more departures than hires, according to data from the Labour Ministry’s Ergani information system. The hiring balance in November last year saw 83,627 more departures, suggesting a year-on-year improvement of 1,164 jobs. Total
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Inflation accelerates to 3.5 pct in Dec, food prices jump further
EconomyMacroeconomyThe growth in Greece’s Consumer Price Index (CPI) picked up pace in December, with a 3.5 pct increase year-on-year (YoY), after rising by 3 pct in November, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT). The average CPI for the rolling 12-month period
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Car sales jump by 30.1 pct in Dec, marking 16.1 pct rise in 2023
EconomyMacroeconomyRoad motor vehicles going into circulation for the first time recorded another solid growth rate in December, growing by 24.8 percent year-on-year (YoY), after a 24.3 percent rise in November, according to Hellenic Statistical Authority (ELSTAT) data released on Friday. In December 2022, the year
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Import prices continue to contract in Nov, but at lower pace of 8.6 pct
EconomyMacroeconomyGreece’s import price index continued to contract in November, though at a slower pace than the previous month, as it fell by 8.6 percent year-on-year (YoY), after dropping by 13.4 percent in October, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday
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Timing factors, underspend lead to budget outperformance of 4.54 bln in 2023
EconomyMacroeconomyThe budget primary balance came to a surplus of 3.69 billion euros for the full year in December, compared to a deficit of 6.65 billion euros in 2022, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Monday. In 2023, the primary balance outperformed
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Despite months of input cost declines, rise in agriculture prices doubles to 3.8 pct in Nov
EconomyMacroeconomyThe output price index in agriculture picked up pace in November with a rise of 3.8 percent year-on-year (YoY), doubling from the 1.9 percent in the previous month, ELSTAT data showed on Monday. This underlines the challenge households are facing with respect to food prices. Agriculture
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Nov current account deficit widens to 3.3 bln, 11M falls below 12 bln
EconomyMacroeconomyGreece’s current account recorded a deficit of 3.3 billion euros in November, from a deficit of 1.45 billion euros in October, Bank of Greece (BoG) data showed on Friday. In November 2022, the balance showed a deficit of 3.91 billion euros, while in November 2021 the current account posted
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Industrial turnover completes eighth month of contraction in Nov, falls 2.7 pct YoY
EconomyMacroeconomyGreece’s industrial turnover remained in contraction in November, dropping by 2.7 percent year-on-year (YoY) from a 2 percent decrease in October, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday. This is the eight successive annual drop, something not seen since
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Newsletter 408 - 19/01/2024
government as the latest data for December showed that headline inflation picked up pace and food prices
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Close to 32 mln visitors by Nov as 11-month travel receipts set record
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 206.2 million euros in November, from 1.5 billion euros in October, according to Bank of Greece (BoG) data released on Monday. November’s balance was 3.9 percent higher than the 198.5 million euros registered in November 2022. The balance in November
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