Monday May 25, 2015 Search
Weather | Athens
14o C
09o 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)  
Finance Ministry lines up changes to car taxation
Luxury Pentelikon Hotel in northern Athens closes down
Euro weakens on Greece as emerging stocks, Spanish bonds decline
Spanish shares fall after vote as Greek stocks drop second day
Greece to keep repaying creditors – as long as it can
Struggling Greece will keep on repaying its EU-IMF creditors for as long as it can, with some 300 million euros due next week and no deal in talks over the country’s remaining bailout funds,...
Bulgaria, Greece, Turkey join hands to fight migration
Bulgaria, Greece and Turkey agreed on Monday to set up a common border police and customs centre to combat a surge in illegal migration. "This agreement guarantees closer cooperation of the ...
Inside News
SOCCER
Berg brace gives Panathinaikos four-point lead
Panathinaikos beat Atromitos on Sunday and took advantage of the goalless draw between PAOK and Asteras Tripolis to open a four-point gap from PAOK at the top of the Super League play-off mi...
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
Inside Sports
Greece needs a second election
Most scenarios facing Greece are bleak. The country could default, introduce capital controls, forcibly convert savers’ deposits into bank capital, quit the euro and so forth. But there is s...
COMMENTARY
No more ´quick and dirty´ fixes for Greece
International Monetary Fund Managing Director Christine Lagarde correctly said last week that the protracted negotiations between Greece and its official creditors required «a comprehensive ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greece to keep repaying creditors – as long as it can
2. Bulgaria, Greece, Turkey join hands to fight migration
3. Finance Ministry lines up changes to car taxation
4. Luxury Pentelikon Hotel in northern Athens closes down
5. Sakellaridis hopeful of deal with lenders, dismisses talk of capital controls
6. Euro weakens on Greece as emerging stocks, Spanish bonds decline
more news
Today
This Week
1. No more 'quick and dirty' fixes for Greece
2. ND's Bakoyannis fears capital controls over long weekend
3. Greece calls on creditors to compromise as IMF payment nears
4. Brussels Group talks to resume Tuesday with VAT, pension topping agenda
5. Tourist dies in rockfall on beach in Crete
6. Greece needs a second election
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.