Current Account in Greece
Greece - Current Account (billions of Euros)The country’s shaky economic recovery continued in the first quarter, after recently-revised GDP figures revealed that the economy returned to growth. Booming fixed investment and rising private consumption supported activity, although the overall economic panorama is still bleak due to tight financing and austerity measures. Recent data for Q2 is mixed: industrial production growth slowed notably in April, but the manufacturing PMI edged up in May. On the political front, the country’s creditors finally greenlighted the next tranche of financing in June after months of deadlock between the IMF and Eurozone lenders. The news is positive for the country’s outlook and removes the risk of a default on debt repayments in July. However, details of debt relief measures to improve the country’s debt sustainability were scarce and concerns over Greece’s future financing needs persist.
Greece - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||-20.7||-7.3||-3.7||-2.9||0.2|
5 years of economic forecasts for more than 30 economic indicators.
Greece Current Account (EUR bn) Chart
Source: Greece Central Bank and FocusEconomics calculations.
|Bond Yield||5.23||-0.54 %||Jul 18|
|Exchange Rate||1.16||0.96 %||Jul 18|
|Stock Market||848||-1.17 %||Jul 18|
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June 23, 2017
A complete dataset released on 2 June by the Hellenic Statistical Authority (EL.STAT) revealed that the Greek economy performed much better than previously expected at the start of 2017.
June 9, 2017
Industrial production expanded a working-day adjusted 1.0% in April compared to the same month of last year, which was below March’s revised notable 10.1% growth (previously reported: +8.7% year-on-year).
June 8, 2017
The number of unemployed fell by 19,400 in March, according to the Hellenic Statistical Authority (EL.STAT.).
June 2, 2017
A complete dataset released on 2 June by the Hellenic Statistical Authority (EL.STAT) revealed that the economy performed much better than previously expected at the start of 2017.
June 1, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) inched up in May, but business conditions remained dismal in Greece’s manufacturing sector.