Business cycle

The Center of Planning and Economic Research (KEPE) expects Greece’s economy to revert to expansion in the current quarter and that growth will amount to 0.5 percent at the end of the year, according to a report issued on Tuesday.

Greek property prices continued to fall in the first quarter, even though the economic recession eased, as squeezed household incomes, record-high unemployment and tax increases still took a toll, data showed on Tuesday.

By Sotiris Nikas

The government is expecting first-quarter data to show Greece’s economic contraction at just 1 percent, against 6 percent in the same period last year.

Greek factory activity expanded again in April thanks to the first rise in employment in six years and faster increases in output and new orders, a survey showed on Friday.

Manufacturing activity has veered between contraction and growth since it logged its first month of expansion since mid-2009 in January.

By Marcus Bensasson & Mark Evans

Antonis Samaras’s mission to end Greece’s exile from bond markets faces a reality check this week as data shows how deeply the economy remains mired in deflation with the worst jobless rate in the euro area.