Thursday September 18, 2014 Search
Weather | Athens
27o C
20o 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)  
Very lucky punters set to be probed
London roadshow starts with record turnout
Banks set to request 6.1 bln under TLTRO
More efforts to cut the price of milk
Police report identifies officers with ties to Golden Dawn
A year after the killing of leftist rapper Pavlos Fyssas by a Golden Dawn supporter amid allegations of links between the neofascist party and the Hellenic Police, a report by the force’s in...
Increasing number of mayors blocking contract reviews
The number of mayors refusing to comply with the government’s demand that they submit the contracts of all municipal employees who had their fixed-term deals turned into open-ended agreement...
Inside News
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
SOCCER
Mitroglou rediscovers scoring touch after Fulham let-down
Costas Mitroglou banished the memories of his disappointing spell in England after breaking a 10-month goal drought as Olympiakos Piraeus secured a thrilling 3-2 Champions League win over At...
Inside Sports
COMMENTARY
Loud patriotism
I admit that whenever politicians drag religious faith and worn-out patriotism into discussions I button up. I feel the same way when I see bishops blatantly getting involved in politics. To...
EDITORIAL
In need of a second wind
Greek Prime Minister Antonis Samaras and a few of his ministers have gone to great lengths to see Greece regain credibility in the eyes of its partners. Given that the state mechanism is not...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Very lucky punters set to be probed
2. London roadshow starts with record turnout
3. Banks set to request 6.1 bln under TLTRO
4. More efforts to cut the price of milk
5. Skiathos tops Greeks’ online summer holiday searches
6. IMF departure gets on the table
more news
Today
This Week
1. SYRIZA victory would spark a bank run, PM reportedly warns
2. Loud patriotism
3. Production of the new Pony to start by the end of the year, NAMCO says
4. Davutoglu calls for a two-state solution in Cyprus
5. In need of a second wind
6. Tsipras to meet with Pope Francis on Thursday
Today
This Week
1. Greece on standby
2. Avramopoulos appointed Commissioner for Migration and Home Affairs
3. Central Athens traffic restrictions back in force on Monday
4. Greece at bottom of social justice scale among EU28
5. EU bank tests may miss trillion dollar risk, study finds
6. Lost in the fog
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.