MacroPolis

October budget revenues beat target by 24% but gg arrears reach 2.47 bln in 2013

05/11/2013 - 16:13

The Greek general government (gg) cash deficit to September fell by 42.3 percent to 5.50 billion with the gg cash primary surplus landing at 3 million from 434 million, the Ministry of Finance (MoF) said on Tuesday.

Deposits down for fourth month in a row as tax obligations rise

25/10/2013 - 16:15

Greek private sector deposits marginally slipped 0.53 percent month on month (mom) in September with balances reaching 161.35 billion euros. Net flow remained in negative territory for the fourth consecutive month with outflows increasing at 719 million in September from 212 million in August.

No signs of credit revival in Sept., balances at 221 bln

25/10/2013 - 15:06

Credit contraction in the Greek market remained unchanged from the previous month at 3.9 percent year on year (yoy) in September with balances reaching 221.0 billion euros, according to the Bank of Greece.

Disposable income plunged 9.3 pct in Q2, dragging consumption down with it

22/10/2013 - 14:18

Greek household disposable income fell by 3.1 billion euros or 9.3 percent year on year (yoy) in the second quarter of 2013 and reached 30.1 billion, according to the Hellenic Statistical Authority (ELSTAT). The latest data indicates an accelerating decline compared to the first quarter drop of -7.4 percent.

Industrial turnover and new orders indices rebound for second straight month

21/10/2013 - 13:15

The Turnover Index in Industry increased 1.7 percent in August, while New Orders Index in Industry also improved by 2.7 percent, according to the Hellenic Statistical Authority (ELSTAT). It is the second straight month both indices have rebounded concurrently, following a 3.7 percent and 1.6 percent respectively rise in July.

Greece's current account in surplus for the fourth consecutive month

18/10/2013 - 14:30

The August current account (C/A) balance showed a surplus for the fourth consecutive month at 1.22 billion euros from 1.63 billion last year, according to Bank of Greece (BoG). The recorded drop year on year (yoy) mainly reflects an increase in the income and current transfers’ deficits by 295 million and 249 million respectively more than offsetting a rise in the services’ surplus by 259 million.

Cash deficit widens as Greece pays off state arrears

15/10/2013 - 17:30

The central government net balance to September on a cash basis showed the deficit widening to 8.88 billion euros from 6.53 billion last year, according to the Bank of Greece (BoG). At the same time, the primary cash deficit also expanded to 3.32 billion from 543 million.

Greek banks less reliant on Eurosystem funding in September

15/10/2013 - 08:53

Greek banks’ Eurosystem funding, the combined liquidity they have received from the European Central Bank (ECB) and the Bank of Greece (BoG) Emergency Liquidity Assistance (ELA) mechanism, dropped by another 1.4 billion euros in September, according to the BoG’s monthly financial statement.

Unemployment creeps up to 27.6 pct in July; little tourism boost evident

10/10/2013 - 15:58

The seasonally adjusted unemployment rate in July edged marginally higher to 27.6 percent from 27.5 percent in June, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT).

Industrial production continues decline with 7.2 pct drop in August

10/10/2013 - 15:30

The Industrial Production Index posted a drop of 7.2 percent in August with the figure for the first eight months of the year also retreating by 3.8 percent, according to ELSTAT. This means that except for April and June, all monthly readings so far in 2013 exhibit a single digit drop of between 4.5 and 7.7 percent.