Current Account in Greece

Greece Current Account | Economic News & Forecasts

Greece - Current Account

Incoming data suggests that the soft dynamics at the end of last year carried over into the first quarter. Retail sales fell for the third straight month in February, which, combined with declining employment in January–February and persistent consumer pessimism in Q1, points to subdued household spending in the quarter. Metrics, however, were more upbeat in Q2: In April, the manufacturing PMI rose to its highest level in nearly two decades while confidence in the industrial sector improved. On the political front, Prime Minister Alexis Tsipras—whose term ends in October—called snap general elections on 26 May after his Syriza party suffered a heavy defeat by the conservative New Democracy party in the European Parliament and local elections. Financial markets reacted positively to the news, with the 11-year government bond yield falling to a record low the following day. Meanwhile, polls indicate that New Democracy will win the election, which will likely be held in June or July.

Greece - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-2.0  -1.6  -0.2  -1.1  -0.8  

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Greece Current Account Chart

Greece Current Account
Note: Current account balance as % of GDP.
Source: Greece Central Bank and Met the why particular calculations.

Greece Facts

Bond Yield3.460.76 %Jun 13
Exchange Rate1.130.65 %Jun 13
Stock Market850-1.46 %Jun 13

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