Macro roundup: Quiet data before elections
Central government budget; employment balance; import prices; industrial turnover
Just a quick roundup today, partly because I’ve been busy writing my report card for the government’s economic performance and partly because it’s been a quiet week for economic releases.
Here’s a summary of what data there was:
The central government posted a primary budget surplus of 2.43 billion euros in the first for months of 2023, compared with a target deficit of 869 million euros.
Net revenue of 21 billion euros was 2.5 billion euros higher than target
There were 123,070 more people starting jobs in March than leaving old jobs, according to the Labour Ministry’s employment balance release.
The import price index in industry dropped 12.7 percent in March from the same month a year earlier.
Industrial turnover increased 1.5 percent in March from a year earlier, compared with 6.8 percent in February.
The rate of increase had reached 54 percent in May of last year.
You probably saw the two posts that went out this week grading the government’s performance. But just in case you missed it, here’s Tuesday’s guest post from Dimitris Valatsas:
And here’s my response, which I sent out a little earlier this afternoon:
Next week’s key releases
Monday, May 22:
March balance of payments (Bank of Greece)
Friday, May 26:
February building activity survey (Elstat)