Current Account in Greece
Greece - Current AccountAvailable data points to a slight improvement in activity in Q1, after growth slowed in Q4 2018 amid flagging domestic demand. Although industrial production growth lost pace in February, dragged by a contraction of the power supply sector, the quarterly average looks likely to exceed that of Q4. Moreover, the manufacturing PMI climbed to a one-year high in March which, coupled with an improved assessment of business conditions in the services sector, bodes well for overall private-sector dynamics in the quarter. Meanwhile, Eurozone finance ministers agreed early this month to disburse a EUR 970 million grant to Greece as part of a post-bailout program, signaling continued confidence by creditors in the country’s reform agenda. In addition, the government ended 2018 with a higher-than-expected primary budget surplus—a testament of authorities’ commitment to fiscal discipline.
Greece - Current Account Data
|Current Account (% of GDP)||-2.0||-1.6||-0.2||-1.1||-0.8|
5 years of economic forecasts for more than 30 economic indicators.
Greece Current Account Chart
Source: Greece Central Bank and FocusEconomics calculations.
|Bond Yield||4.06||0.76 %||May 13|
|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||725||-1.46 %||May 13|
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May 10, 2019
Industrial production dipped 2.7% year-on-year in working-day adjusted terms in March, contrasting February’s revised 3.0% expansion (previously reported: +2.3% year-on-year) and marking the sharpest decline in three years.
May 9, 2019
The number of unemployed workers declined by 5,299 in February compared to January while the seasonally-adjusted unemployment rate ticked down to 18.5% from 18.6% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT).
May 2, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 54.7 in March to 56.6 in April, the highest reading since June 2000.
April 11, 2019
According to data released by the Hellenic Statistical Authority (ELSTAT), the number of unemployed workers rose by 3,990 in January compared to December while the seasonally-adjusted unemployment rate ticked up to 18.5% from 18.4% in the previous month.
April 9, 2019
Industrial production rose 2.3% year-on-year in working-day adjusted terms in February, following January’s revised 4.2% expansion (previously reported: +3.4% year-on-year).