ELSTAT

Industrial production in Greece rose 2.1% in January-May 2023 compared to the same period in 2022, outperforming the eurozone, as natural gas prices continued to decline and companies reined in payroll costs, data released by statistics agency ELSTAT show.

Manufacturing, which accounts for 73% of the industrial index, rose 5.7% year on year and mining production was up 9.6%.

The annual pace of inflation jumped to 2.5% in July from 1.8% in June, independent statistics agency ELSTAT announced Thursday.

Greek exports declined for a third month in a row in June, with year-on-year decline reaching 24.5%. Part of the decline is that the prices of many goods, especially oil products are lower. But imports declined significantly in the first half, bringing the trade deficit down. 

The Foundation for Economic and Industrial Research (IOBE) has upwardly revised its forecast for Greece's growth in 2023 to 2.4%, from 1.4% three months ago, following a general trend after statistical agency ELSTAT's positive data for a growth rate of 5.9% in 2022.

Construction showed signs of recovery in May, as the number of building permits shot up 7.4 percent, according to independent statistics agency ELSTAT.
Specifically, 1,453 building permits were issued in May, for an area totaling 268,900 square meters.

In its weekly review, Eurobank said that the drop in the jobless rate to 17.2 percent in May, which was announced this week by the independent statistics agency ELSTAT, was an encouraging sign, because it means that the average unemployment rate for 2019 will most likely drop below 18 percent.

In its weekly review, Eurobank said that the drop in the jobless rate to 17.2 percent in May, which was announced this week by the independent statistics agency ELSTAT, was an encouraging sign, because it means that the average unemployment rate for 2019 will most likely drop below 18 percent.

Greece's economy grew by just 1.3 percent in the first quarter of the year compared with the same three-month period in 2018, when growth came to 2.6 percent, figures published on Tuesday by the country's statistical agency ELSTAT have shown.

Greece improved its public finances last year, achieving a general government surplus of 1.1 percent of gross domestic product compared to a slightly revised 0.7 percent of GDP in 2017, the country's statistics agency ELSTAT said on Tuesday.

Greek retail sales by volume rose 0.7 percent in December compared to the same month in 2017 after a downwardly revised 2.9 percent increase in November, statistics service ELSTAT said on Thursday.
Retail sales were led higher by apparel, footwear, fuels and supermarkets.