Greece Economic Outlook
bet360备用网址March 3, 2020Economic activity seemingly lost further stride in the final stretch of 2019, after slowing in the third quarter on shrinking domestic demand. Industrial output plunged in Q4 on an ailing electricity supply sector, suffering the sharpest contraction in six years. Similarly, goods exports fell in the quarter amid weak EU demand, which, coupled with a marked slowdown in tourism revenues in the same period, suggests the external sector may have restrained growth. A sizeable drop in merchandise imports also hints at subdued domestic demand at year-end. Turning to 2020, upbeat employment and production growth lifted the manufacturing PMI to a six-month high in January, boding well for the goods-producing sector. In other news, the country’s bonds reached another milestone in mid-February, with 10-year yields falling below 1.00% for the first time despite its junk-rated debt as investors scramble for positive yield in the Eurozone government bond market.
Greece Economic GrowthThe gradual economic recovery is poised to continue this year on quickening domestic demand. The sustained improvement in the labor market should bolster private consumption, while strengthening confidence and tax breaks should stimulate capital spending. Softening Eurozone demand and competition from other tourist destinations in the Mediterranean cloud the outlook. FocusEconomics panelists see GDP expanding 2.2% in 2020, which is unchanged from last month’s forecast, and 2.0% in 2021.
Greece Economy Data
bet360备用网址5 years of Greece economic forecasts for more than 30 economic indicators.
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|Bond Yield||1.91||0.76 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Greece Economic News
March 10, 2020
Industrial production dipped 1.2% year-on-year in working-day adjusted terms in January, following December’s revised 4.2% drop (previously reported: -4.5% year-on-year) and marking the fourth consecutive month of decline.
March 6, 2020
bet360备用网址The economic recovery lost further pace in the final quarter of last year, according to provisional data released by the Greek Statistical Institute (ELSTAT) on 6 March.
March 5, 2020
The number of unemployed workers fell by 12,274 in December 2019 compared to November while the seasonally-adjusted unemployment rate edged down to 16.3% from 16.5% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT).
March 2, 2020
bet360备用网址The IHS Markit manufacturing Purchasing Managers’ Index (PMI) jumped from 54.4 in January to 56.2 in February, marking a 10-month high.
February 10, 2020
Industrial production declined 4.5% year-on-year in working-day adjusted terms in the final month of 2019, following November’s revised 9.0% plunge (previously reported: -8.1% year-on-year) which had marked the sharpest fall since December 2011.