Current Account in Greece
Greece - Current AccountAfter GDP growth rebounded firmly in Q2, the economy likely expanded at a softer, albeit still-strong, pace in the third quarter: Industrial output growth came in below Q2’s average in monthly terms in July–September, hinting at waning private sector activity. Conversely, a notable drop in the unemployment rate in the quarter will have boosted household spending. Meanwhile, although the tourism sector remained below pre-pandemic levels, upbeat tourist arrivals in September continued to buoy the external sector, according to secondary data. Moving on to Q4, a near 10-year high inflation rate in October has likely capped private consumption growth. Lastly, following a record number of new Covid-19 infections recently, authorities imposed restrictions on the unvaccinated population starting from late November, barring them from a number of indoor activities.
Greece - Current Account Data
|Current Account (% of GDP)||-0.8||-1.7||-1.9||-2.8||-1.4|
5 years of economic forecasts for more than 30 economic indicators.
Greece Current Account Chart
Source: Greece Central Bank and FocusEconomics calculations.
|Bond Yield||1.91||0.76 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 17, 2021
The number of unemployed workers decreased by 45,571 in September compared to August, while the seasonally-adjusted unemployment rate dropped to 13.0% in September, compared to 13.9% in the previous month.
November 10, 2021
Industrial output grew 9.7% year-on-year in working-day adjusted terms in September, cooling marginally from August’s 10.0% increase.
November 1, 2021
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) came in at 58.9 in October, up from 58.4 in September.
October 13, 2021
The number of unemployed workers decreased by 1,035 in August compared to July, while the seasonally-adjusted unemployment rate dropped to 13.9% in August, compared to 14.0% in July.
October 8, 2021
Industrial output grew 10.1% year-on-year in working-day adjusted terms in August (July: +7.8% yoy).