Macroeconomy
Banks meet overall NPE reduction target in Q1 2017, largely on write-offs
Greek banks continued meeting their NPE reduction target in Q1 2017, the third quarterly report on operational targets for NPEs published by the Bank of Greece (BoG) revealed.
General govt primary cash surplus rises to 2.6 bln in 4-month, arrears fall below 5 bln
Greece’s general government (gg) primary cash surplus edged up by 35 million euros from the previous year to 2.63 billion in the 4-month period of 2017, the Finance Ministry (MoF) gg bulletin showed.
Deposit interest rates largely unchanged in April, average loan rate increases
Greek households’ new time deposit rate edged up by 2 basis points (bps) to 0.68 percent in April, Bank of Greece (BoG) figures showed on Friday.
Q1 GDP provides a positive surprise with 0.4 pct quarterly growth
Seasonally adjusted GDP grew by 0.4 percent quarter-on-quarter in the first quarter of 2017, after a downwardly revised drop of 1.1 percent in the previous quarter.
Greek PMI rises to 49.6 in May as uncertainty continues to impact
Greece’s Manufacturing PMI rose by 1.4 points in May according to Markit, posting the ninth consecutive deterioration in Greek manufacturing sector conditions.
Slight rise of 0.3 pct in March retail sales after strong growth in February
The turnover of Greece’s retail trade index edged up by 0.3 percent in March, after revised double-digit growth of 11.2 percent in February, ELSTAT data showed on Wednesday.
Economic sentiment down 1.7 pts in May, consumer confidence up for second straight month
Economic sentiment fell by 1.7 points in May after improving cumulatively in the previous two months, European Commission figures showed on Tuesday.
Credit contraction decelerates to 0.9 pct in April, net additions climb to 659 mln
The pace of credit contraction in the Greek market further slowed to 0.9 percent in April from 1.3 percent in the previous month, Bank of Greece (BoG) figures showed on Monday.
Deposit flow turns negative again in April with outflows of 139 mln
The deposit flow in the Greek banking system turned negative again in April, with outflows of 139 million following inflows of 278 million in the previous month, Bank of Greece (BoG) figures showed on Monday.
Greek SMEs struggle most for finance versus eurozone peers
The latest ECB semi-annual survey on access to finance for eurozone enterprises showed that Greek SMEs continue to face some of the biggest hurdles.