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A macroeconomic assessment of the Cypriot economy after the haircut
Agoraanticipated drop in consumption and GDP as the impact of reduced nominal salaries on consumption has... is a temporary rather than a permanent drop in income, and because they do not consider bank deposits... in terms of medium to long-run impact is that the deposits haircut has led to a permanent decrease
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Sales season pushes November retail volume to growth for the first time since March 2010
EconomyRetail sales turnover stayed flat year on year (yoy) in November following a 2.1 percent drop..., which posted a higher drop of 2.9 percent compared to October (-2 percent) and December (-1.7 percent... in the respective excise tax last year. The drop in retail sales throughout 2013 also stems from
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Greek recession slowed from revised 7 pct in 2012 to 3.9 pct last year
EconomyMacroeconomydrop, according to provisional data published by the Hellenic Statistical Authority (ELSTAT... of the year), household consumption retreated 6 percent in 2013, leading to a 5.6 percent drop in total final consumption expenditure. There was a significant slowing in the drop in private
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Greek trade deficit rises further in April as exports fall by 20.8 pct
EconomyMacroeconomy(ELSTAT). April’s performance led the 4-month trade deficit up 6.8 percent to 7.11 billion. The double-digit growth posted in March reflects a drop of imports by 7.5 percent and a higher decrease... products, April imports and exports exhibit a slower drop of 3.8 and 12.4 percent respectively
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Loan and deposit rates edge down in May but remain above euro area average
EconomyMacroeconomy. Overall, the drop in the average rates on new deposits by 10 bps and on new loans by 36 bps, led...Following a drop by 10 basis points (bps) in April, the interest rate on households’ new time... in June 2012. Although with some delay and at a slower pace, the drop in time deposit rates has
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Apartment prices see 22nd straight quarter of decline: Down 7.3 pct in Q2
EconomyMacroeconomyThe drop in apartment prices in Greece decelerated for the fourth successive quarter to 7.3 percent... the peak of 102.2 posted in Q3 2008. The drop in transactions exceeds 90 percent over the past six... to the evolution of building activity, which posted a cumulative drop of 75 percent since 2008. The latest
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Greek disposable income continues its slide in Q2, reached 29 pct during crisis
EconomyMacroeconomy) of 2014 to 30.8 billion, according to the Hellenic Statistical Authority (ELSTAT). Q2 rate of drop.... The continued drop in disposable income mainly reflects a decline in the compensation of employees.... In contrast, property income showed a low single digit drop (-9.8 percent) over the past five
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August trade deficit shrinks by 29.5 pct as imports fall faster than exports
EconomyMacroeconomyrespectively. The sharp drop in trade deficit in August led the respective 8-month figure up by a mid... the first data is avalable. August’s performance reflects a 16.3 percent drop in imports and a 5.7... a slower drop in August (-20.3 percent), mainly reflecting a lower decrease in imports (-12.9 percent
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Unemployment rate at 25.7 pct in Jan, lowest since Aug 2012
EconomyMacroeconomyreflects a 1.1 percent month on month (MoM) drop in the number of unemployed. The employed marginally.... In contrast, the YoY drop in the number of jobless showed a slight acceleration to 6.7 percent in January..., the aggregate figures point to a cumulative drop of 22.5 percent corresponding to 1,027,300 lower
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Industrial turnover falls for 5th straight month in March at decelerating 2.9 pct
EconomyMacroeconomyThe Turnover Index in Industry fell for the fifth successive month, yet the rate of drop... a broadly similar drop in both the manufacturing (-2.9 percent) and the mining and quarrying turnover (-3.2... drop by 2.9 percent. The regional breakdown for March showed mixed trends. The industrial turnover
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