Sunday December 21, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
All signs point to a rebound

 Manufacturing, economic sentiment and car sales indices confirm recovery

By Dimitra Manifava

The latest data and estimates on the course of the 2013 fiscal year are pointing to a smaller-than-expected economic contraction, while there are clear indications of a market rebound.

The primary surplus for last year is now expected to reach up to 1.5 billion euros and the gross domestic product contraction will end up below 4 percent, although the official GDP figures for the last quarter of 2013 will be published on February 14. The current account balance will show a surplus for 2013, after almost 20 years, with the official figures expected on February 19.

These figures, combined with a series of positive pieces of news from various indices, consolidate Greece’s economic improvement, which will be the main weapon in the government’s tough negotiations with the representatives of its international creditors in the coming weeks.

The latest reading of the Purchasing Managers Index (PMI), announced on Monday by Markit, showed a return to growth as it climbed above the parity level of 50 points for the first time in 53 months to reach 51.2 points in January. Markit said that factories’ new orders have resulted in a third consecutive month of output growth.

The Economic Sentiment Index of the Foundation for Economic and Industrial Research (IOBE) also showed an improvement for January Monday, as it read 92.6 points against 91.4 in December 2013, and 86.1 points in January 2013. This was attributed mostly to the improvement in business expectations in the retail, construction and service sectors.

Another indication of the improvement in consumer confidence is the increase in car sales, as the rising course that started in mid-2013 has continued into this year: Market professionals speak of a 10 percent increase in new car registrations in January from a year earlier, while orders for new cars have grown by 15 percent, which will be recorded in this month’s sales data.

ekathimerini.com , Monday February 3, 2014 (22:20)  
Workers rush to get early retirement
Piraeus Containter Terminal goes from strength to strength
Moscovici: Creditor inspections to become less frequent and ‘lighter’
Property capital gains tax halt
Environment Ministry to reconsider controversial bill
The government over the weekend appeared to backpedal on proposed amendments widely seen as compromising legislation protecting Greek forests as well as Plaka, Athens’s old quarter. The bill...
Corfu to host country’s first hydroplane strip
Merchant Marine Minister Miltiades Varvitsiotis and Deputy Infrastructure and Transport Minister Michalis Papadopoulos have signed a decision paving the way for the country’s first hydroplan...
Inside News
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
The big picture
In his second term, US President Barack Obama is taking steps to enshrine his legacy and solidify America’s standing in the 21st century. His recent decision to normalize relations between t...
EDITORIAL
Get your facts straight
The danger that political discourse in Greece will sink to the basest levels of vulgarity is already more than apparent from the allegations we have heard bandied about over recent days. The...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Environment Ministry to reconsider controversial bill
2. Corfu to host country’s first hydroplane strip
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Police gets new communications system
5. Most Greeks say they recycle daily
6. Probe into revenues of 2 mln euros in Halkidiki municipality
more news
Today
This Week
1. Get your facts straight
2. The big picture
3. Political upheaval sharpens after bribe claims with threats and insinuations
4. Environment Ministry to reconsider controversial bill
5. Changes on E9 property declarations possible until end-year
6. Police gets new communications system
Today
This Week
1. Samaras summons bond vigilantes with euro exit talk
2. A friendly yet firm message from Pierre Moscovici
3. Europe's drama in Greece needs final act to avoid tragedy
4. High stakes
5. On the edge but not gutless
6. Gap between SYRIZA and New Democracy closing, says poll
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.