Economic stagnation

The airline industry is crying foul over government practices that are hampering its growth, with Aegean Air vice chairman Eftychis Vassilakis attributing the stagnation in the carrier's figures to increased taxes and charges and the poor official response to the migrant crisis.

The data of the Labor Ministry's Ergani system that monitors hirings, which had shown significant growth in hirings over departures in the local labor market in the year up to end-July, are now showing a reversal in favor of departures in August, Kathimerini understands.

The strongest impediment to growth of the economies of Central, Eastern, and Southeastern Europe (CESEE) this year and next would be stagnation in the euro zone, which is the largest trading partner for many of them, the International Monetary Fund (IMF) has said.

The National Bank of Serbia (NBS) expects GDP to increase by 0.5 percent this year relative to the May projections which anticipated a stagnation.

Greek consumer prices fell 2.1 percent year-on-year in May, with the annual pace of deflation unchanged from the previous month, data from the country?s statistics service showed on Wednesday.

Greece?s European Union-harmonized deflation rate slowed, showing prices fell by 1.4 percent in May from a 1.8 percent decline in April.

The state of world affairs over the past decade has been characterized by complexities that defy easy analysis and prognostication. Global developments experienced during the previous year have only added to existing difficulties-particularly in terms of guidance and progress. 

 Country?s economy contracted 0.2 percent in the first quarter of the year compared to Q4 of 2014

By Dimitra Manifava

House sales’ stagnation in Turkey due to higher interest rates and plunging confidence are causing a bottleneck for the construction sector’s growth

As the new statics arrive, it can be seen that the deterioration of the Turkish economy is continuing in the the third quarter of 2014. While leading indicators continue to weaken, according to the statistics based on recent numbers, the real sector confidence index has been stagnating for three consecutive months, while the capacity usage rate has been shrinking for two consecutive months.