Economy
Strong tourism season has little impact on unemployment, hovering at 10.8 pct in July
Greece’s seasonally adjusted (SA) unemployment rate was essentially unchanged in July, landing at 10.8 percent, from a slightly downward revised 11 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Warning from producer prices as most categories rise YoY in July, index up 1.4 pct MoM
Greece’s Producer Price Index (PPI) contracted for the fifth successive month in July, dropping by 8.6 percent year-on-year (YoY), after falling by 11.7 percent in June, ELSTAT data showed on Wednesday.
Economic sentiment improves marginally in Aug, consumer confidence takes 7-point tumble
Greece’s economic sentiment (ESI) recorded a 0.7-point rise in August, after a 1-point increase in July, according to European Commission figures released on Wednesday.
Deposits contract by 191 mln in July as business savings decline
The net private sector deposit movement in the Greek banking system turned marginally negative in July with a 191-million-euro outflow, after jumping by 3 billion euros in June, based on the latest Bank of Greece (BoG) figures released on Monday.
Credit expansion slows to 1.2 pct in July as corporate loans contract
The pace of credit movement in the Greek private sector continued to slow in July, rising by 1.2 percent year-on-year (YoY), from 2.8 percent in June, Bank of Greece (BoG) figures released on Monday showed.
Building activity grows by 15.8 pct in May, up 11.5 pct in first five months
Building permits recorded a decent movement in May, rising by 15.8 percent year-on-year (YoY), after a modest rise of 0.9 percent in April, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Monday.
Income tax, VAT help generate 3.56 bln budget surplus in July as interest expenses exceed 5 bln
The budget primary balance in July was confirmed at a surplus of 3.56 billion euros, compared to a deficit of 1.16 billion euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Friday.
Travel surplus rises to 5.06 bln in June as arrivals soar by 26 pct in 6M
Greece’s travel balance recorded a surplus of 2.73 billion euros in June, from 1.54 billion euros in May, according to Bank of Greece (BoG) data released on Tuesday.
Impact of energy moderates, current account deficit narrows to 7.86 bln in 6M
Greece’s current deficit narrowed further to 638.2 million euros in June, from 1.65 billion euros in May, Bank of Greece (BoG) data showed on Monday.
New bonds drive up central government debt by 3 bln to 404.69 bln in Q2
Greece’s central government debt recorded a sizable rise of over 3 billion euros to 404.69 billion euros in Q2 2023, the Finance Ministry's (MoF) debt bulletin showed on Friday.