Great Recession in Europe

Retail prices in Istanbul, Turkey's largest city, increased 1.07 percent in June from the previous month, data from the Istanbul Chamber of Commerce (İTO) have shown.

That followed a 0.45 percent increase in November.

Romania's economic growth slowed down in Q3 of this year to 3 percent on gross series against the same period of last year, after the Gross Domestic Product (GDP) went up 4.4 percent in Q2 against the same period of 2018, according to the data published by the National Institute of Statistics (INS) on Thursday.

Total credit in Greece's banking system contracted 0.9 percent year-on-year in September after a 0.7 percent decline in the previous month, Bank of Greece data showed on Tuesday.
Credit extended to the government fell 3.1 percent after decreasing by 4.4 percent in August, the central bank said.

Greece auctioned 13-week treasury bills carrying a negative interest rate on Wednesday for a second month in a row, confirming its improved stature in the markets some 14 months after its emergence from the bailout programs.

Greek bond yields have started to rival Italy's, with analysts estimating that the spread between them will soon drop to zero. This comes as Greece confirmed the return of market confidence on Wednesday, selling debt without interest.

The easing of Greek state bond yields to record lows has opened the way to international markets for major Greek corporations too, as they can now take the opportunity to reduce their cost of borrowing.

Apartment prices in Greece rose 6.3 percent in the first half of the year compared to last, shooting up 7.7 percent in the second quarter compared with the same period in 2018.

There was a 0.1% decline in GDP in the second quarter of this year.

The German economy will enter a recession in the third quarter due to the "sharp" decline in industrial production due to tensions in international markets, Bundesbank warned.

The German economy shrank by 0.1 percent in the second quarter from the previous quarter as global trade conflicts and troubles in the auto industry weighed on Europe's largest economy.

Greek industrial output rose 0.3 percent in June compared to the same month last year, after a revised 0.1 percent decline in May, statistics service ELSTAT said on Friday.
Looking at index components, manufacturing production rose 1.0 percent from the same month in 2018, while mining output fell 0.4 percent.