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Greece's industrial production shows no signs of reversing the negative trend
EconomyMacroeconomyThe Industrial Production Index recorded a drop of 1.8 percent in September showing a decelerating trend following a dip exceeding 7 percent in the preceding two months, according to Hellenic Statistical Authority (ELSTAT). September performance led nine-month figure down 3.6 percent compared to a 3.8 percent at the end of August.
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Greece goes deeper into deflation territory
EconomyMacroeconomyThe drop in Greece’s Consumer Price Index (CPI) accelerated to 2.0 percent in October compared to a 1.1 percent decline in September, according to the Hellenic Statistical Authority (ELSTAT). On a monthly basis, CPI marginally eased by 0.1 percent, while the average rate of CPI change over the trailing twelve months remains negative at -0.4 percent.
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Disposable income plunged 9.3 pct in Q2, dragging consumption down with it
EconomyMacroeconomyGreek household disposable income fell by 3.1 billion euros or 9.3 percent year on year (yoy) in the second quarter of 2013 and reached 30.1 billion, according to the Hellenic Statistical Authority (ELSTAT). The latest data indicates an accelerating decline compared to the first quarter drop of -7.4 percent.
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Industrial turnover and new orders indices rebound for second straight month
EconomyMacroeconomyThe Turnover Index in Industry increased 1.7 percent in August, while New Orders Index in Industry also improved by 2.7 percent, according to the Hellenic Statistical Authority (ELSTAT). It is the second straight month both indices have rebounded concurrently, following a 3.7 percent and 1.6 percent respectively rise in July.
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Unemployment creeps up to 27.6 pct in July; little tourism boost evident
EconomyMacroeconomyThe seasonally adjusted unemployment rate in July edged marginally higher to 27.6 percent from 27.5 percent in June, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT).
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Industrial production continues decline with 7.2 pct drop in August
EconomyMacroeconomyThe Industrial Production Index posted a drop of 7.2 percent in August with the figure for the first eight months of the year also retreating by 3.8 percent, according to ELSTAT. This means that except for April and June, all monthly readings so far in 2013 exhibit a single digit drop of between 4.5 and 7.7 percent.
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Greece's building activity continues its nosedive in July
EconomyMacroeconomyGreek building activity (measured by the number of building permits) dropped 24.0 percent in July with the respective surface figure easing 8.6 percent, while volume remained flat year on year, according to the Hellenic Statistical Authority (ELSTAT).
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Drop in Greek CPI decelerated to 1.1 pct in September
EconomyMacroeconomyGreece’s Consumer Price Index (CPI) remained on negative ground in September, easing by 1.1 percent compared to a 1.3-percent drop recorded in August. On a monthly basis, CPI rose by 2.6 percent, while the average rate of CPI change over the trailing twelve months turned negative at -0.1 percent for the first time.
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Sharper drop for retail sales in July points to lingering recession
EconomyMacroeconomyRetail sales continued heading south for yet another month with the contraction rate accelerating to 14.2 percent in July from a revised 7.7 percent in June, according to Hellenic Statistical Authority (ELSTAT). A similar drop (14.0 percent) was also evident in retail volumes
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Trade deficit to July eased by 17.4 pct to 11.2 billion euros
EconomyMacroeconomyThe Trade deficit fell 3.4 percent year on year (yoy) to 1.54 billion euros in July, while the respective 7-month figure also retreated 17.4 percent yoy to 11.19 billion, according to the Hellenic Statistical Authority (ELSTAT).