Current Account in Greece
Greece - Current AccountFollowing consistent criticism over the reliability of its data, the Hellenic Statistical Authority (ELSTAT) has ceased issuing flash GDP estimates as it reviews ways to improve the quality of its releases. However, incoming monthly data suggests that the economy likely grew again in Q2, albeit at a weak pace. While the labor market is slowly improving, austerity measures and high unemployment are weighing on household consumption. Other indicators point to an uneven performance in recent months: Industrial production growth slowed in June, but exports expanded at a double-digit pace. On a positive note, Fitch Ratings raised Greece’s credit rating from CCC to B- on the back of reduced political risks and continuing GDP growth in August.
Greece - Current Account Data
|Current Account (% of GDP)||-3.8||-2.0||-1.6||0.1||-0.6|
5 years of economic forecasts for more than 30 economic indicators.
Greece Current Account Chart
Source: Greece Central Bank and FocusEconomics calculations.
|Bond Yield||5.27||-0.12 %||Sep 18|
|Exchange Rate||1.20||-0.08 %||Sep 18|
|Stock Market||761||-1.99 %||Sep 18|
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September 1, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) climbed in August, suggesting the fastest rate of growth in the manufacturing sector in nine years.
September 1, 2017
A provisional dataset released on 1 September by the Hellenic Statistical Authority (EL.STAT) revealed that the economy performed slightly better than projected in the second quarter, as the expected slowdown in activity failed to come to fruition.
August 10, 2017
The number of unemployed fell by 5,490 in May compared with a decrease of 13,000 in April, according to the Hellenic Statistical Authority (EL.STAT). The unemployment rate inched down from April’s revised 21.8% (previously reported: 21.7%) to 21.7%, a multi-year low.
August 8, 2017
Industrial production expanded a working-day-adjusted 1.6% in June compared to the same month of last year, which was significantly below May’s revised 6.3% growth (previously reported: +5.4% year-on-year).
August 2, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) was table in July, resting at June’s nearly one year high of 50.5.