Saturday March 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece on threshold of growth, OECD says

The recovery of the Greek economy is continuing and even starting to gain strength, the Organization for Economic Cooperation and Development (OECD) said on Monday.

According to the latest data, the OECDs composite leading indicators (CLI) for the Greek economy rose to 102.81 points in June, with 100 indicating a long-term growth trend. CLI are designed to forecast curving points in an economy either acceleration or a slowdown six months before this occurs. The CLI stood at 102.71 in May, having been treading above-100 ground continuously since October 2013. This reflects a slowdown in the recession, which shrank 0.9 percent in the first quarter of 2014, year-on-year.

The Hellenic Statistical Authority (ELSTAT) is due to announce an initial estimate on the performance of the economy in the second quarter of 2014, which, according to a projection by Eurobank, will be especially encouraging, as there is a small likelihood that the countrys gross domestic product did not shrink at all for the first time in 24 consecutive quarters. According to Eurobank, most economists polled by Bloomberg forecast a 0.5 percent contraction, while the banks chief economist put the figure at -0.3 percent. In any case, all expect a figure close to zero and statistically it may even be above that. Such an event could be significant for market confidence, consumption and the stock market, according to a study cited by Eurobank.

The study, conducted by academics Andrew Eggers and Alexander Fouirnaies, examines what happens in an economy when the growth rate hovers around zero. Its conclusion is that businesspeople may not deem such small differences in GDP as important but consumers do. The result is that in OECD countries it has been observed that there is a disproportionate strengthening of consumer confidence and consumption after the announcement of positive data regarding GDP. An unexpectedly positive piece of news may boost consumption by up to 1 percent, while the exit from the recession has also been linked with an outperformance of stock market indices in Spain, Ireland and Portugal.

ekathimerini.com , Monday August 11, 2014 (22:19)  
Bank accounts continue to bleed
Hania and Athens are the top picks for Easter visitors
Landlords to pay tax on unpaid rent
Air arrivals grow 20 pct in Jan-Feb 2015
Defense minister Kammenos sues commentator for 1 mln euros
Defense Minister Panos Kammenos has sued commentator Andreas Petroulakis for 1 million euros in damages over a critical article posted on the Protagon website on March 17. In a statement pos...
Reform talks move to Brussels
The Brussels Group, technical teams from Greece and its lenders, is on Saturday due to begin discussing the details of Athens reform proposals, which were completed Friday and will determine...
Inside News
BASKETBALL
Greens live dangerously in Istanbul
Panathinaikos played with fire in Istanbul, but still managed to beat Galatasaray 86-84 on Friday and climb to the third sport of its group two games before the end of the Euroleague top-16....
SOCCER
Greek federation backs injured Holebas
The Greek soccer federation on Friday insisted that international defender Jose Holebas had been dropped from team training in Austria because of injury and not for any other reason. Media r...
Inside Sports
COMMENTARY
Time to get moving
More than two months have passed since the elections and the government has to stop running around in circles and adopt a program of specific reforms, with detailed calculations as to their ...
EDITORIAL
The same old story
One of those infamously bad practices that the political system has been accused of for years is being propagated by the new government today, as it is appointing party cadres and politician...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greens live dangerously in Istanbul
2. Bank accounts continue to bleed
3. Hania and Athens are the top picks for Easter visitors
4. Landlords to pay tax on unpaid rent
5. Air arrivals grow 20 pct in Jan-Feb 2015
6. Cash injection from state debtors
more news
Today
This Week
1. Greek future as trade hub in limbo amid Syriza split on railways
2. Greek gov't denies finance minister Varoufakis to resign [Update]
3. Bundesbank's Weidmann says euro zone debt in 'danger zone,' opposes more aid for Greece
4. New Democracy's political council convenes to decide line opposite gov't
5. Clocks go forward one hour on Sunday
6. Berlin says has no exact information about Greek reforms
Today
This Week
1. Next Monday is D-Day for state funds
2. EU asks Greece for more reforms to speed talks on bailout
3. PM faces Merkel amid race to detail reforms
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Looking at the Chinese model
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.