GREECE
Macro/Political:
• Greece’s Manufacturing PMI posted 53.2 in May, unchanged from April, signalling a continued expansion that began in February 2023. The latest improvement in the health of the goods-producing sector was solid overall and historically elevated. Notably, May data indicated another rise in new sales at Greek manufacturers, although the pace eased to the slowest in three months. The rise in new orders was largely driven by domestic demand, as new business from abroad fell for the first time in seven months. The decline was only marginal but was reportedly influenced by the impact of U.S. tariff announcements and weak demand in European markets.
Source: PMI
CYPRUS
Macro/Political:
•The Turnover Value Index of Retail Trade (except of motor vehicles) for April 2025 increased by 5.5% compared to the corresponding month of the previous year. For the same month, the Turnover Volume Index of Retail Trade increased by 6.3% compared to the corresponding month of previous year.
Source:CyStat
•Preliminary data estimated that the GDP growth rate in real terms during the 1Q25 was positive at 3% (y-o-y). Based on seasonally adjusted data, GDP growth rate in real terms was estimated at 3%.
Source:CyStat
