Exchange Rate in Greece
Greece - Exchange Rate
The recovery remained on track in Q2, although growth was still weak overall. GDP growth inched up from Q1’s result led by a boom in exports and a rebound in government consumption. Private consumption, however, grew at the slowest pace since Q2 2016, constrained by a high unemployment rate and low consumer confidence. Available data for the third quarter, however, suggests that activity is gathering steam: The current account surplus widened in July due to a strong tourism sector, and the manufacturing PMI recorded its best reading in eight years in August. The government is gearing up for a busy few weeks as it attempts to pass all the pending reforms demanded by creditors before November for an upcoming bailout review. A successful and timely conclusion to the review is key to proving the government can stand on its own two feet after the current program ends in August 2018. Prolonged negotiations could damage investor sentiment and threaten the tentative recovery. In September, the EU closed the excessive deficit procedure for Greece—a positive sign that the country is moving towards ending almost a decade of bailouts.Greece - Exchange Rate Data
| 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 1.32 | 1.38 | 1.21 | - | - |
Greece Exchange Rate Chart
Source: Thomson Reuters.
Greece Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.40 | 0.76 % | Oct 19 |
| Exchange Rate | 1.19 | 0.65 % | Oct 19 |
| Stock Market | 746 | -1.46 % | Oct 19 |
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Economic News
Greece: PMI records best reading since June 2008
October 2, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) climbed in September, suggesting the fastest rate of growth in the manufacturing sector in over nine years.
Greece: Industrial production growth inches down in July
September 8, 2017
Industrial production expanded a working-day-adjusted 1.7% in July compared to the same month of last year, which was a notch below June’s revised 1.8% growth (previously reported: +1.6% year-on-year).
Greece: Unemployment rate edges down in June
September 7, 2017
The number of unemployed fell by 13,900 in June compared with a decrease of 8,000 in May, according to the Hellenic Statistical Authority (EL.STAT).
Greece: Unemployment rate falls in July
September 6, 2017
The number of unemployed fell by 12,700 in July compared with a decrease of 14,200 in June, according to the Hellenic Statistical Authority (EL.STAT).
Greece: PMI records best reading since August 2008
September 1, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) climbed in August, suggesting the fastest rate of growth in the manufacturing sector in nine years.
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