The interest rate on households’ new time deposits was further reduced by 14 basis points (bps) to 1.94 percent in October, according to the Bank of Greece (BoG). This was the first reading below the 2-percent mark since Greece’s accession in the eurozone in 2002.
The troika sent early on Wednesday a response to the measures proposed by Greece with the aim of securing the return of inspectors to Athens and a conclusion to the prolonged programme review.
Building on the basic points leaked on Monday, Kathimerini daily unveiled on Tuesday the measures included in a 43-page document sent by the Greek authorities to the troika with the aim of breaking the deadlock over the current review.
In an effort to reach a compromise with the troika, Greek authorities have a range of proposals mainly aimed bridging the anticipated fiscal gap of about 2.5 billion euros for 2015.
Greece’s Manufacturing PMI improved for the second straight month in November, rising by 0.3 points to 49.1 from 48.8 in October, according to Markit.
Following a rise in the preceding seven months, Greek private sector deposits fell by 0.2 percent month on month (MoM) in October. Balances reached 164.5 billion euros, according to the Bank of Greece (BoG).
The Greek non-seasonally adjusted (NSA) GDP at constant prices posted a growth of 1.9 percent year on year (YoY) in Q3, higher than the flash estimate of 1.7 percent, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) on Friday.
The rate of credit contraction in Greece decelerated to 3.2 percent in October from 3.5 percent in September, according to the Bank of Greece (BoG). This was the lowest negative reading since December 2011.
After increasing in the preceding three months, the turnover of Greece’s retail trade index fell by 0.9 percent in September following a downward revised 4.4 percent rise in August, according to the Hellenic Statistical Agency (ELSTAT).
Greece’s economic sentiment rose for the second consecutive month in November, increasing to 102.7 from 102.2 in October, according to the European Commission (EC).