Business cycle

Greece's economy shrank slightly in the last three months of 2018 after expanding for nine consecutive quarters, government data showed on Thursday, with the annual pace of growth also slowing.

As presented in the previous Note for Discussion, the intertemporal balance sheet calculated as of 2009 (version 2009) - and its projections - was preliminary and data and economic policies have since been revised.

Roughly half the nation's business economists say they think the U.S. economy will slip into recession by the end of next year, and three-fourths envision such a downturn beginning by the end of 2021.

"The government should not undertake reckless measures which would wreck everything the economy has created in recent years - for its own sake and for the sake of the country. If the economy is supported by appropriate political decision making, we can achieve a target of EUR 60,000 of value added per employee and EUR 50bn in exports by 2025.

In September, the overall business climate indicator declined by 1.5 points compared to August. This is due to the unfavorable economic conjuncture in the construction and service sector, according to the regular Business Surveys of the National Statistical Institute. The main factors hampering business continue to be linked to the precarious economic environment and labor shortages.

Confidence in Turkey's economy marked its biggest ebb in a decade in September with a 15.4 percent slump; official data showed on Sept. 27, reinforcing concerns about a sharp slowdown.

Three Greek banks - Piraeus, National and Alpha - are among the world's top 40 lenders in financing oceangoing shipping, as the Greek credit sector has increased its share in funding Greek shipping companies in the face of a global reduction in marine lending, according to 2017 data compiled by Petrofin Bank Research.

Fitch Solutions / Economics / Bulgaria / Tue 21 Aug, 2018

A protracted downturn in Greece's residential property market slowed sharply in the first quarter of 2018, central bank data showed on Tuesday, raising hopes that prices were starting to respond to a recovering economy.

Greek factory activity grew at a faster pace in May, with sharp increases in new orders and production leading companies to hire more workers, a survey showed on Friday.