Interest Rate in Greece
Greece - Interest RateThe 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 - Interest Rate Data
|Policy Interest Rate (%)||0.75||0.25||0.05||-||-|
5 years of economic forecasts for more than 30 economic indicators.
Greece Interest Rate Chart
Source: European Central Bank.
|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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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.
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).
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).
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).
September 1, 2017
A provisional dataset released on 1 September by the Hellenic Statistical Authority (EL.STAT) revealed that the economy performed slightly better than projected in the second quarter, as the expected slowdown in activity failed to come to fruition.