Current Account in Greece
Greece - Current AccountThe economy shifted to a lower gear in Q1. Household spending waned amid softer wage gains, while government expenditure contracted yet again. Net trade also dragged markedly on growth but, encouragingly, fixed investment rebounded solidly. Turning to Q2, activity seems to have remained somewhat subdued. Industrial production dipped again in April, and the manufacturing PMI fell from a near two-decade high in May. Moreover, economic sentiment averaged lower in April–May than in Q1 owing to lingering pessimism among consumers and more downbeat sentiment in the retail trade sector, boding ill for private consumption. In politics, the conservative New Democracy party is expected to win the 7 July general election. Although this implies a shift to market-friendly policies, which may provide a boost to business sentiment, the slow pace of the recovery is set to persist amid the economy’s structural weaknesses and government’s commitment to strict fiscal targets.
Greece - Current Account Data
|Current Account (% of GDP)||-2.0||-1.6||-0.8||-1.7||-1.8|
5 years of economic forecasts for more than 30 economic indicators.
Greece Current Account Chart
Source: Greece Central Bank and FocusEconomics calculations.
|Bond Yield||3.06||0.76 %||Jul 11|
|Exchange Rate||1.13||0.65 %||Jul 11|
|Stock Market||863||-1.46 %||Jul 11|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 11, 2019
The number of unemployed workers declined by 26,925 in April compared to March while the seasonally-adjusted unemployment rate fell to 17.6% from 18.2% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT).
July 10, 2019
Industrial production declined 1.2% year-on-year in working-day adjusted terms in May, marking the sharpest fall in over three years and contrasting April’s revised 1.7% increase (previously reported: -0.8% year-on-year).
July 1, 2019
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dropped to 52.4 in June from 54.2 in May, the lowest level in nearly two years.
June 25, 2019
After suffering a resounding defeat to the conservative opposition New Democracy (ND) party in the European and local elections last month, Prime Minister Alexis Tsipras, head of the ruling left-wing Syriza party, called snap general elections for 7 July, nearly four months before the end of his term.
June 10, 2019
Industrial production dropped 0.8% year-on-year in working-day adjusted terms in April, following March’s revised 2.8% decline (previously reported: -2.7% year-on-year), which had marked the sharpest fall in three years.