Greece Economic Outlook
July 24, 2018Economic data points to sustained momentum in Q2, albeit likely slower than Q1’s solid pace. The manufacturing PMI remained firmly entrenched in positive territory in June, with continued expansions in new orders and output boding well for business conditions. Economic sentiment slipped slightly in June, however, and the unemployment rate rose marginally in April. In recent bailout news, Germany delayed signing off on the final EUR 15.0 billion aid payment in disapproval of Prime Minister Alexis Tsipras’ postponement of a VAT hike. The disbursement speed bump demonstrates how tightly watched Greece will be under the new surveillance regime upon completion of the bailout program in August and the challenges it may face to uphold its commitment to certain economic reforms. Dedication to unpopular austerity measures may be particularly difficult ahead of the next legislative election, to be held by the end of October 2019, when politicians will be seeking to shore up voter support.
Greece Economic GrowthThe economic recovery should continue to broaden gradually over this year and next, driven by a stronger labor market and improving sentiment. The long-term outlook, however, partially hinges on the country’s ability to maintain fiscal discipline and minimize debt risks following its bailout exit. Met the why particular panelists see GDP expanding 2.0% in 2018, which is up 0.1 percentage points from last month’s forecast, and 2.0% again in 2019.
Greece Economy Data
5 years of Greece economic forecasts for more than 30 economic indicators.
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|Bond Yield||4.33||0.76 %||Aug 07|
|Exchange Rate||1.16||0.65 %||Aug 07|
|Stock Market||761||-1.46 %||Aug 07|
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Greece Economic News
August 11, 2018
According to data recently released by the Hellenic Statistical Authority (EL.STAT), the number of unemployed workers decreased by 18,029 in May compared with April and the seasonally-adjusted unemployment rate fell to 19.5% from a revised 20.0% in the previous month (previously reported: 20.2%).
August 11, 2018
Industrial production expanded a working-day adjusted 1.2% annually in June, decelerating from May’s revised 1.7% expansion (previously reported: +2.0% year-on-year).
August 1, 2018
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) was steady in July, unchanged at June’s 53.5 points.
July 12, 2018
According to data recently released by the Hellenic Statistical Authority (EL.STAT), the number of unemployed workers decreased by 7,698 in April compared with March.
July 11, 2018
Industrial production expanded a working-day adjusted 1.0% annually in May, decelerating from April’s revised 2.0% expansion (previously reported: +1.9% year-on-year).