Friday Jan 30, 2015 Search
Weather | Athens
16o C
13o 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 OECD’s 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 country’s 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 bank’s 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)  
Greece to cancel gas utility sale, opposes Canadian gold mine
Berlin: Greek aid extension only makes sense if Athens upholds reforms
Pimco says Greek bonds illiquid, volatile until accord reached
Draghi deflation challenge underlined as prices plunge by record
Trial over Greek Cup locker room entry to continue Monday
An appeals court in Athens is due to decide on Monday whether Olympiakos chairman Vangelis Marinakis and deputy chairman Savvas Theodoridis should face further action over their decision to ...
Wet, windy weather set to persist in Greece through weekend
The wet and windy weather that hit most parts of Greece on Thursday and Friday is expected to persist through Sunday, the national weather service said on Friday. Rain and thunderstorms are ...
Inside News
SOCCER
Gattuso: Unpaid OFI players couldn´t buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
SOCCER
Olympiakos draws AEK in Cup quarterfinals
The dream draw of Olympiakos vs AEK in the quarterfinal materialized on Friday, as two of the capital's three giants will face off in a two-leg tie for a place in the semifinals of the Greek...
Inside Sports
INTERVIEW
SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
“SYRIZA must realize that it is now the Greek government, not a party running an election campaign,” European Parliament President Martin Schulz, the first European official to visit Greece ...
COMMENTARY
Strange haste
The members of the new government must have a lot of confidence in themselves. Several days before announcing his program, Prime Minister Alexis Tsipras and his cabinet have opened up a mult...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Trial over Greek Cup locker room entry to continue Monday
2. Wet, windy weather set to persist in Greece through weekend
3. New Greek PM Tsipras in Italy, France next week
4. Gattuso: Unpaid OFI players couldn´t buy food
5. Greece sets up cash crunch for March telling EU it’s over
6. Greece warned against reversing bailout deals
more news
Today
This Week
1. SYRIZA must come up with ‘pragmatic solutions,’ Schulz tells Kathimerini
2. Why Greece went left while Europe turns to right
3. Capital flees Greece at fastest pace since 2011
4. Greek government's signals very mixed, ECB's Jazbec says
5. Monastiraki restaurant fire prompts panic, restricted before spread
6. EU's Schulz: Greece should follow EU line on Russia
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. Greek Elections 2015: The day after | LIVE
5. SYRIZA's win will test institutions
6. Poll shows SYRIZA leading ND by 4 pct
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.