May 22, 2024

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Are you okay when you tell us we're okay?

Are you okay when you tell us we're okay?

Written by George Kraloglos

Auctions up to 3 times. Retail for crying out loud. Investments are not even damned. Minimum net worth: EUR 706. What's going well? Will it drive us crazy?

Want more details?

Don't read us. Read Elstat and what he writes about retail trading: “…February this year shows a decline in consumption as the general volume index showed a decline of 9.8% compared to February 2023. The general trading volume index in February 2024 also decreased by 3.8% compared to February 2024” . To the corresponding index for February 2023. The decline in sales is primarily due to a decline in disposable consumer income due to inflation and precision which has largely resulted in prioritization of purchases meaning that the consumer is creating selective and specific markets.

Is ELSTAT not enough for you?

Here's what the market itself is saying (When we also looked to see what was happening to us and heard a lot of grumbling in the market after our finance staff assured us that everything was fine) “…the data in retail trading is very worrying and in fact the current February picture and the decline in trading volume and volume confirm that This year's sales, which took place during the two months from January to February, did not achieve what was expected…. And whoever says that this is the reason. As for the other sales, those that will take place at the end of 2023, they probably do not know what they are talking about… ”

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do you want more?

Take the same retail trade that is preparing (just after Easter) to give written images of the entire political landscape (government and opposition) “…in the discount period of 2024, 7 out of 10 companies appear to have seen their prices fall”. Trading volume remained unchanged compared to the corresponding time period in 2023.”

Let's remember what else the committee told us (among many things about our president) in the report released last week?

“…Greece suffers from low productivity and the international competitiveness of its economy, mainly due to a significant decline in investment during the years of the multi-year economic crisis. Business investment fell from 34% of GDP in 2008 to 13.4% of GDP in in 2019 and to 15% of GDP in 2022, remaining about 10 percentage points below the EU average of top lending ratios as a percentage of their profits.

Its main problems are the low productive investments in the economy, which is primarily due to the Greek market structure, which is characterized by the prevalence of a low-technology service sector, which is usually labor-intensive, which means low investment needs. .

And this is the final picture of reality, from the same report as reported in three series: “…the corporate sector is dominated by small and very small companies, which amount to 85% of the total. These companies tend to avoid risks and are therefore more reluctant to increase their activities.” “.

Is it something else that we haven't noticed but that “insists” on showing us that we're doing a good job?

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