The IHS Markit manufacturing Purchasing Managers’ Index (PMI) rose from 48.6 in July to 49.4 in August. Guest posts are welcome. (13.6% from 18.3%). More specifically, unemployment in the eurozone climbed to 7.9 percent in July  from 7.7 in June and for the EU to 7.2 percent from 7.1 percent in June. The number of unemployed rose by 58,146 persons to 836.6 thousand while those employed went up by 11,640 to 3.744 million.

According to the same data, a total of 1.09 million people in Greece are currently without a job, 147,000 of whom receiving unemployment benefits. The number of unemployed amounted to 745,948 while the number of inactive to 3,269,459. Total Credit to the Greek Economy Rises Most in 11 Years, Greek Current Account Balance Swings to Gap, Greek Construction Output Drops the Most in Near 3 Years, Greek Industrial Output Falls for 4th Month, Greek Factory Activity Shrinks Less in August, Mexico Economic Activity Shrinks Less than Expected in July, FDI Into Vietnam Drops 3.2% in January-September, Nigeria Factory Activity Shrinks for 5th Month, Crude Oil Erases Gains, Heads for Weekly Loss. In its World Economic Outlook “The Great Lockdown: Worst Economic Downturn Since the Great Depression” on the devastating effects on the global eocnomies, the IMF projects that Greece will be the country among the eurozone members to be mostly hit.

Average recession in Europe -7.5%. The number of unemployed persons rose by 58,146 in June compared to May while the seasonally-adjusted unemployment rate jumped to 18.3% from the previous month’s revised 17.3% (previously reported: 17.0%), according to data released by the Hellenic Statistical Authority. The current account deficit is expected to expand to 6.5% in 2020 (vs 2.1% in 2019). They are followed by the Peloponnese - Western Greece - Ionian Islands (15.3% from 19%), Attica (14.5% from 18.3%), Crete (13.8% from 12.3%) and the Aegean. Prior to the pandemic, the IMF forecast a growth rate of 2.2 percent this year, climbing to 2.8 percent in 2021.

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Google+, Facebook April 15, 2020 Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. This recovery in 2021 is only partial as the level of economic activity is projected to remain below the level we had projected for 2021, before the virus hit. Greece unemployment rate for 2019 was 17.24%, a 2.05% decline from 2018.

According to forecasts based on a projected growth rate of 2.8 percent in 2020, joblessness is expected to drop this year to 15.6 percent from 17.4 percent in 2019. Greece's Unemployment Rate is updated monthly, available from Apr 1998 to Jun 2020, with an average rate of 11.60 %. In women, the unemployment rate (19.9% in February 2020 from 23% in February 2019) remains significantly higher than that in men (13.1% from 14.7%).

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