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ELSTAT

Austerity Shrinks Greek Spending 10.6%

Continuing austerity measures took 4 billion euros ($5.38 billion) out of the pockets of Greeks in the last year, shrinking their disposable income by 10.6 percent – and it looks likely to become even worse with more pay cuts,...

EU Backs Georgiou On Greek Statistics

Contradicting Greek prosecutors who want an investigation into whether Greece’s statistics agency ELSTAT manipulated numbers in 2009 to force the country to seek an international bailout, the European Commission said the agency’s head, Andreas Georgiou, gave accurate reports. The European...

ELSTAT Chief Georgiou Faces Probe

Greek prosecutors have said they want to conduct a criminal inquiry into whether Andreas Georgiou, the head of the country's statistics agency ELSTAT, and two of his subordinates to determine whether they manipulated numbers to force the country...

Unemployment Rate Climbs to New Record in Octοber

Greece΄s unemployment rate climbed to a new record of 26.8 percent in October as the debt-laden country΄s protracted economic slump dragged on, data showed on Thursday. Greece΄s jobless rate has almost tripled since it started rising in September 2009 as...

Trade Deficit Widens In October

Greece's merchandise trade deficit increased from last year in October, data released by the Hellenic Statistical Authority showed on Dec. 26. The trade deficit, excluding oil products, increased 5.3 percent on an annual basis to 1.2 billion euros in October. Export...

Greek Economy Shrinks 6.9% In Q3

Getting ready to enter a third year of austerity measures and a sixth of recession, plans to halt Greece's slide have failed to halt a further decline in the economy, which shrank by 6.9 percent in the third quarter...

Greek Jobless Rate Hits Record 26%

As Greek Prime Minister was crowing that he is reviving the country’s economy and putting it on the road to recovery, the unemployment rate hit a record 26 percent in September as a sixth year of recession looms. The Greek...

Despite Greek Debt Deal, OECD Sees Recession

Even as Greek Prime Minister Antonis Samaras said the pending release of a $56.7 billion in a first series of installments in a second bailout of $172 billion has saved Greece, the Organisation for Economic Co-Operation and Development (OECD)...

Greek Trade Deficit Closes to $13 Billion

While most of the numbers in Greece's crushing economic crisis are negative, the country's trade deficit for the first nine months of the year fell 21.6% to 10.05 billion euros ($13 billion) compared to the January-September period last year,...

Greek Jobless Rate Hits Record 25.4%

As the Greek Parliament was approving a $17.45 billion spending cut and tax hike plan – exempting its own employees - the country’s unemployment rate rose for the 39th consecutive month to a record high of 25.4 percent, showing...