Following a brief rise in December, Greek banks’ Eurosystem funding resumed its downward trend in January easing by 2.18 billion euros, according to the Bank of Greece (BoG) monthly financial statement.
The Bank of Greece (BoG) released on Thursday the much anticipated report on Greek banks’ capital needs resulting from a follow-up stress test including the outcome of the new Blackrock loan diagnostic.
The seasonally adjusted jobless rate slightly eased to 27.5 percent in December from a downwards revised 27.6 percent the previous month, according to the Hellenic Statistical Agency (ELSTAT). The September rate of 27.8 percent now holds the new high.
Greece’s Manufacturing PMI improved by 0.1 points for the fourth straight month in February reaching 51.3 points from 51.2 in January, according to Markit.
Greece’s retail trade index fell by 6.7 percent in December in terms of turnover and was down by 6.1 percent as far as volume is concerned, according to data published by the Hellenic Statistical Agency (ELSTAT) on Friday.
Greek private sector deposits fell 1.4 percent month on month (mom) in January with balances reaching 161.03 billion euros, according to the Bank of Greece (BoG).
The year on year (yoy) credit contraction in the Greek market marginally accelerated for the second straight month to 4 percent in January from 3.9 percent in December, with balances reaching 217.61 billion euros, according to the Bank of Greece (BoG).
Troika officials are due to meet Bank of Greece (BoG) governor Giorgos Provopoulos on Wednesday as local lenders’ capital needs have shot to the top of the agenda in the current round of talks between Greece and its lenders.
In its winter economic forecasts released on Tuesday, the European Commission (EC) notes that recent data support expectations that Greece should return to growth in 2014. Confidence indicators continue to improve, whilst hard data releases suggest the first signs of recovery.
Greece’s trade deficit narrowed 2.1 percent to 1.4 billion euros in December, while the respective figure for 2013 fell 11 percent to 19.34 billion, according to the Hellenic Statistical Authority (ELSTAT).