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Impact of uncertainty on economy starting to emerge in hard data
EconomyFeaturespct. The European Commission’s latest business sentiment indicators for July showed... on Greece’s trade balance, which is going deep into deficit each month. The total deficit up to May... and into 2023. Greece has pinned a large part of this year’s growth aspirations on the RRF, via state
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Travel balance of 4.19 bln in H1 beats 2019 as tourism sector leaves pandemic behind
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 2.42 billion euros in June, from 1.19 billion euros in May, according to Bank of Greece (BoG) data released on Monday. June’s balance was significantly... pandemic. Most notably, June’s balance is even higher than the 2.36 billion euros of June 2019
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Economic sentiment sees marginal recovery in Aug as most sectors face challenging conditions
EconomyMacroeconomyGreece’s economic sentiment (ESI) reversed the recent declines, growing by a marginal 0.5 points... from the previous month. The euro area’s ESI was 97.6 points, down by 1.3 points from July. The recovery in Greece’s consumer confidence, which began following the pandemic, has hit some serious
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Seasonality drives retail sales up by 12.1 pct in Jun, but cost-of-living crisis evident in volume data
EconomyMacroeconomyThe growth in Greece’s retail sales picked up pace again in June, rising by 12.1 percent year... in June, after a decrease of 3.7 percent in the previous month. The volume’s monthly movement was up.... According to the latest business indicators for August, Greece’s consumer confidence at -54.2 points
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Industrial production grows by 7 pct in Jul, as manufacturing records monthly drop
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) continued recording gains in July, rising by 7 percent... Commission’s latest business surveys, industry confidence fell further into negative territory at -1.5.... In addition, Greece’s Manufacturing PMI dropped by just 0.3 points in August to 48.8 points, after
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Finance Ministry costs new support package, but questions remain over electricity subsidies
Economywill not derail Greece’s fiscal commitments as most of it is funded by higher economic activity that boosts budget performance. However, there was no clarity about the government’s intentions on the energy... authorities as the fiscal commitments require turning this year’s 2 pct primary deficit
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Travel receipts reach 8.55 bln up to July, balance of 7.71 bln beats 2019 record
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 3.52 billion euros in July, from 2.42 billion euros in June, according to Bank of Greece (BoG) data released on Wednesday. July’s balance... pandemic. Most notably, July’s balance is even higher than the 3.47 billion euros of July 2019
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Tourism jobs tumble in Aug, ending 6-month run of positive hirings balance
EconomyMacroeconomyGreece’s employment balance moved into deep negative territory in August as there were 32,966 more departures than hires, according to data from the Labour Ministry’s Ergani information system... to Covid-19. August’s negative balance is the first after six straight months this year of a hiring
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Rising contributions spark concern in key voter groups
PoliticsGreek Politicsunder and that, unlike larger companies, they are not experiencing any benefit from the government’s... in opposition and which helped ND come to power in 2019. Mitsotakis’s party attacked the then SYRIZA-led... next year’s rises in contributions for the self-employed and farmers.
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Economic sentiment recovers 3.4 pts in Sept, buoyed by rise in services
EconomyMacroeconomyGreece’s economic sentiment (ESI) reversed the recent declines and posted a solid rise by 3.4... sharply by 3.5 points from the previous month. The euro area’s ESI was 93.7 points, down by 3.6 points from August. The recovery in Greece’s consumer confidence following the sharp pandemic drop
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