Macroeconomy
Banks on track with NPE targets in Q2 as sales play bigger role
Greek banks succeeded in meeting their non-performing exposure (NPE) reduction target in the second quarter (Q2) of 2018 according to the eighth quarterly report on operational targets for NPEs published by the Bank of Greece (BoG).
Unemployment at 19.1 pct in June, under 20 pct for second month
Greece’s seasonally adjusted (SA) unemployment rate fell to 19.1 percent in June from a downward revised rate of 19.3 percent in May, the Hellenic Statistical Authority’s (ELSTAT) data showed on Thursday.
General govt primary cash surplus at 2.82 bln in July, arrears unchanged
Greece’s general government (gg) primary cash surplus came to 2.81 billion euros in the first seven months of the year, down by 1.33 billion euros compared to the same period last year, according to the Finance Ministry’s (MoF) monthly gg bulletin.
Manufacturing PMI climbs to 53.9 pts in August, outlook remains positive
Greece’s Manufacturing PMI edged up to 53.9 points in August from 53.5 in July, staying over the 50-mark threshold for 15 straight months as confidence in the sector remains solid.
GDP growth slows to 0.2 pct QoQ in Q2 due to lower investment, higher imports
Greece’s seasonally adjusted (SA) GDP grew by 0.2 percent quarter-on-quarter (QoQ) in the second quarter (Q2) of 2018, after an upwardly revised increase of 0.9 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) provisional estimates revealed on Monday.
Retail turnover in June grows strongly led by fuel and supermarket sales
Greece’s retail sales index increased by 3.3 percent in June, following a revised downward 4.9 percent rise in May, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment remains stable as retail confidence materially improves
Greece’s economic sentiment (ESI) remained broadly unchanged in August dropping by 0.1 points to 105.2 following a rise of 2.8 points in July, European Commission (EC) figures revealed on Monday.
Deposits inflows reach 840.6 mln in July driven by time deposits
Net deposit movement in the Greek banking system continued to stay on positive ground with inflows of 840.6 million in July, albeit falling from inflows of 1.36 billion in June, Bank of Greece (BoG) figures revealed on Tuesday.
Credit contraction at 1.5 pct in July, balance at 177.56 bln
Credit contraction in the Greek market deepened to 1.5 percent in July from 1.2 percent in June, Bank of Greece (BoG) figures released on Tuesday showed.
Budget primary surplus confirmed at 2.05 bln in July on lower PIB expenditure
The budget primary balance was confirmed at a surplus of 2.05 billion euros in the first seven months of 2018, the Finance Ministry (MoF) final budget execution bulletin for July showed on Friday. Last year’s figure for the same period came to 3.02 billion.