Data about the growth of Greece’s economy in the second quarter of the year (April-June), will not be released until early September, but there are a number of predictive indicators that show the economy has proved resilient amid upheaval.
According to Eurobank Research, retail trade volume, which records the value of sales in constant prices, recovered in May, rising 3.4% month-on-month, after declining both in March (0.4%) and April (1.5%).
Also, the annual rise in employment was a healthy 1.2% in June, after posting gains both in April (0.5%) and May (0.9%).
Other widely used indicators, such as the Purchasing Managers’ Index, which rose for a third consecutive month in July to 54.3 – with 50 denoting expectations of zero growth – also look good. Only consumer spending appears a bit weak.
