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Athens News Agency: News in English, 08-12-04
CONTENTS
[01] Economic Sentiment Index at record low
[02] GDP up 3.1% points in Q3
[01] Economic Sentiment Index at record low
The Economic Sentiment Index in Greece has dropped to a historic low,
according to a survey by the Foundation for Economic and Industrial
Research (IOBE), which was unveiled on Thursday. The index dropped for
the ninth consecutiv month, mostly mirroring the downward trend
recorded in the rest of Europe. The index stood at 66.7 percent, down
from 72.9 percent in October, a new record low, as is the case with
Spain, the UK, Denmark and the Netherlands in November. The index
measures business expectations in the industrial, construction, retail
and services sectors, while also taking into account consumer
sentiment. According to IOBE, consumer confidence shows signs of
recovery, stabilising at last month's low levels and with only a
marginal improvement.
[02] GDP up 3.1% points in Q3
Greece's Gross Domestic Product (GDP) rose by 3.1 percentage points in
the third quarter of 2008 against the corresponding quarter in 2007,
and by 0.4 percentage points over the preceding second quarter of 2008,
according to figures released on Thursday by the national statistical
service (NSS).
Economic activity in the third quarter of 2008, according to NSS, was
characterised by a 16.4-percent reduction in gross investments of fixed
capital against the corresponding quarter of 2007.
The biggest reduction was posted by investments in construction, both
of new residences (a 32.7-percent reduction) and other constructions (a
reduction of 18.3 percent).
A reduction of 8.1 percent was also recorded in investments for motor
vehicles, while an increase in investments was posted only in the metal
products and machinery sector.
Reductions were also recorded in consumer expenditure, by 1.8 percent,
and in imports of goods and services by 8.2 percent, while exports of
goods and services rose by 1.7 percent.
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