Retail Sales in Greece
Greece - Retail SalesComplete data for the fourth quarter show that the economy ended last year on a much weaker footing than initially estimated, recording the sharpest contraction since Q3 2015. The deterioration was driven by nosediving investment and a sharp slowdown in household spending. The abysmal result underscores the challenges facing the debt-burdened country and the lack of progress made towards a sustained recovery despite multiple macroeconomic adjustment programs. In addition, the country’s feeble economic state has increased skepticism over whether the government will be able to hit tough bailout targets. The bailout review was delayed again in March as the government and its creditors remain at odds over required reforms, in particular concerning the labor market. A successful review is needed to unlock fresh funds, which are vital before over EUR 7 billion in bond payments are due in July.
Greece - Retail Sales Data
|Retail Sales (annual variation in %)||-10.2||-12.2||-8.1||-0.4||-1.5|
5 years of economic forecasts for more than 30 economic indicators.
Greece Retail Sales Chart
Source: National Statistical Service and FocusEconomics calculations.
|Bond Yield||7.18||-2.40 %||Mar 28|
|Exchange Rate||1.09||-0.16 %||Mar 28|
|Stock Market||665||2.78 %||Mar 28|
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March 10, 2017
Industrial production expanded a working-day adjusted 7.2% in January compared to the same month of last year, which was above December’s revised 2.5% rise (previously reported: +2.2% year-on-year).
March 9, 2017
The number of unemployed in Greece decreased by 2,300 in December, according to the Hellenic Statistical Authority (EL.STAT.).
March 6, 2017
A complete dataset released on 6 March by the Hellenic Statistical Authority (EL.STAT) showed that the deterioration in Greece’s economy at the end of 2016 was much worse than previously estimated.
March 1, 2017
The Markit manufacturing Purchasing Managers’ Index (PMI) edged up in February, after coming in at the lowest level since September 2015 in January.
February 14, 2017
Growth in Greece’s crisis-hit economy stalled in the fourth quarter after recording the best performance seen since Q1 2008 in Q3.