Economy
Are things looking up for Greece's privatisation programme?
In its latest weekly credit outlook published on Monday, Moody’s said that the “Greek privatization program looks to exceed targets by year-end, a credit positive (for the sovereign)”. This is the first positive comment on privatizations by a rating agency after years of setbacks and underperformance.
Greek economy contracts 0.9 pct in Q1, slowest pace since Q1 2010
Greek non-seasonally-adjusted GDP contracted 0.9 percent year on year (YoY) in the first quarter of 2014 from -2.3 percent posted in Q4 2013, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) today.
May sees 48.7 pct rise in number of new cars in circulation
The growth in the number of road motor vehicles (going into circulation for the first time) accelerated to 48.7 percent in May from 9.1 percent in April, according to the Hellenic Statistical Authority (ELSTAT).
Accommodation and food services index rises by 44.9 pct in Q1
The Turnover Index in Accommodation and Food Services soared 44.9 percent in the first quarter (Q1), accelerating from the 35.9 percent posted in the last quarter of 2013, according to Hellenic Statistical Authority (ELSTAT).
Unemployment rate edges down for sixth straight month to 26.8 pct in March
The seasonally adjusted jobless rate slipped for the sixth straight month in March, edging down to 26.8 percent from an upwards revised 26.9 percent in February, according to the Hellenic Statistical Agency (ELSTAT).
General gov't primary cash surplus to April at 1.69 bln
The Greek general government (gg) primary cash surplus stood at 1.69 billion in the 4-month period (Jan-Apr) from a deficit of 755 million last year, according the gg bulletin released by the Ministry of Finance (MoF).
Cost of Greek corporate loans rises in April, remains well above euro average
After remaining stable for the past five months, the interest rate on households’ new time deposits eased by 10 basis points (bps) to 2.71 percent in April, according to the Bank of Greece (BoG).
Data for May shows Greek PMI in growth territory for second straight month
Greece’s Manufacturing PMI remained above the 50-point mark, which separates growth from contraction, for the second straight month in May, albeit marginally easing by 0.1 points to 51.0, according to Markit.
Piraeus Bank reports loss of 247 mln for Q1
Piraeus Bank concluded the first quarter (Q1) reporting season for Greek banks by posting a net loss of 247 million from 700 million in Q4.
Drop in Greek retail sales accelerates to 3.4 pct in March
The turnover of Greece’s retail trade index fell by 3.4 percent year on year (YoY) in March, from a revised -1.9 percent posted in February, according to the Hellenic Statistical Agency (ELSTAT).