Mass protests over the unresolved Tempe train crash intensify pressure on the Greek government

Macro/Political
• Mass protests in Greece on January 26 have intensified pressure on the government over the unresolved Tempe train crash. Amid fresh revelations and growing public anger, calls for a cabinet reshuffle have resurfaced. According to media, It appears likely that a reshuffle will occur shortly after the fourth and final vote for the President of the Republic on February 12. Greek PM Kyriakos Mitsotakis is expected to distance himself from officials whose names have been linked to the Tempe train tragedy while also strengthening his team at the Prime Minister’s Office.

Source: kathimerini

• Greece’s Manufacturing PMI posted 52.8 in January, down slightly from 53.2 in December, but extending the current sequence of growth to two years. The latest data signalled a modest improvement in the health of the goods1producing sector and one that was stronger than the series trend.

Source: PMI

• Data released by Eurostat showed that the annual inflation in Greece is expected to be 3.1% in January from 2.9% in December 2024.

Source: Eurostat

Macro/Political
• The Turnover Value Index of Retail Trade (except of motor vehicles) for December 2024 increased by 5,8% (y-o-y). For the same month, the Turnover Volume Index of Retail Trade increased by 3.6% (y-o-y). For the period January-December 2024, the Value Index is estimated to have recorded an increase of 5.4% and the Volume Index an increase of 4.3% compared to the same period of 2023.

Source: Cystat

• Data released by Eurostat showed that the annual inflation in Cyprus is expected to be 3% in January from 3.1% in December 2024.

Source: Eurostat