Economy
Trade deficit shoots up by 52.8 pct in Oct as imports exceed pre-pandemic levels
Greece’s trade deficit jumped by 52.8 percent year-on-year (YoY) in October, from an increase of 27.8 percent in September and 43.3 percent in August, according to data from the Hellenic Statistical Authority (ELSTAT) released on Wednesday.
Greece takes next steps, including bond swap, to enhance debt profile over coming years
This week started with two developments that intend to further smooth out Greece’s debt obligations in the coming years.
GDP up by 2.7 pct QoQ in Q3, taking growth for first nine months to almost 9 pct
Greece’s seasonally adjusted (SA) GDP increased by 2.7 pct quarter-on-quarter in the third quarter of the year (Q3), from a downwards revised 2.1 pct in the second quarter (Q2) provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Monday.
BoG sees banks on right path, warns impact of pandemic not visible yet
The progress made by Greece’s banks to clean up their balance sheets was reflected in the latest financial stability report published by the Bank of Greece (BoG) on Thursday.
OECD adds to strong recovery forecasts, sees 6.7 pct growth this year and 4.8 pct in 2022
The OECD is the latest international organization to affirm the view that Greece is experiencing a strong economic recovery this year and will see continued expansion into 2022, assisted by the RRF.
Alpha Bank reports 2.5 bln loss in 9M as it intensifies effort to clean up balance sheet
Alpha Bank reported a net loss of 2.5 billion euros in the first nine months of the year (9M), compared to profits of 134 million euros in 9M 2020, due to booking losses from its Galaxy NPE portfolio securitisation.
PMI remains in growth territory in Nov amid supply disruptions and inflation
Greece’s manufacturing PMI stayed broadly stable in November, edging down to 58.8, from 58.9 points in October, Markit data released on Wednesday showed.
Retail sales rise by 13 pct in Sep as fuel has notable impact
Greece’s retail sales picked up pace again in September, rising by 13 percent year-on-year (YoY) from a downward revised increase of 7.5 percent in August, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Employment balance turns negative by 70,048 in Oct as tourism season ends
Greece’s employment balance in October turned negative with 70,048 more departures than hirings, from a positive balance by 19,727 in September, according to data from the Labour Ministry’s Ergani information system.
Economic sentiment back up to pre-pandemic levels, reaching 113.4 pts in Nov
Greece’s economic sentiment (ESI) continued improving in November, rising by 1 point month-on-month (MoM) to 113.4 points, following a 3.7-point rise in October, according to European Commission figures released on Monday.