Production economics

Labor productivity in Greece remains low compared to Europe, according to the annual report of the Hellenic Productivity Council highlighting a permanent weakness of the Greek economy.

Turkey's industrial productivity increased by 2.84% year-on-year from July to September, the Industry and Technology Ministry said on Dec. 11. 

Calendar adjusted index of production per person employed stood at 114.09 in the third quarter of 2020, rising from 110.23 in the same period last year, according to official figures.

Turkey's manufacturing industry used 61.6% of its capacity in April, the country's Central Bank said on April 24. 

The manufacturing capacity utilization rate fell 13.7 percentage points on a monthly basis in April, the bank survey showed, reflecting the impact of the coronavirus pandemic.

Finland's new Prime Minister Sanna Marin plans to introduce a four-day work week with 6-hour business days.

According to her, a flexible schedule will allow workers to spend more time with their families. Marin believes this would also increase labor productivity.

The proposal was welcomed by Education Minister Li Andersson, the Daily Mail reported.

Technologic innovations should be adapted to the production to raise productivity, the Turkish industry and technology minister said on Oct. 31.

The Bank of Greece estimates that the impact of the investment incentives bill currently being debated in Parliament will amount to a 5-percentage point increase in gross domestic product, a 3.6-percentage point rise in employment, along with a reduction in undeclared labor, while investments will increase by 4.9 percentage points over the next decade.

Sustaining growth and improvements in living standards in Turkey will require higher productivity, the World Bank said on July 24.

German Consul Hans E. Tischler said on Thursday that the German investors in Transylvania intend to maintain their businesses because they feel good here. Hans E. Tischler said he visits very often German companies in all of Transylvania and finds that German companies still feel good here and want to stay.

The announced increase of the minimum wage to 650 euros a month (gross) has generated concern domestically and abroad regarding the impact on the economy.

Automakers have welcomed a recent government decision to extend previously introduced tax cuts on automobiles until the end of March, hailing it as a boost to sales in the domestic market.