Economy
WEF report highlights weakness of Greek institutions and challenges of recovery
Greece’s competitiveness improved by 10 spots in 2014, at an accelerating pace compared to the previous year, according to the Global Competitiveness Report 2014-15 published by the World Economic Forum (WEF) today. In 2013, Greece had gained 5 spots.
Greek primary cash surplus widens to 3.2 bln in 7-month
The Greek general government (gg) primary cash surplus widened by 82.7 percent year on year (YoY) to 3.24 billion in the 7-month period of 2014 from 1.77 billion last year, according the gg bulletin released by the Ministry of Finance (MoF) today.
Loan rates rebounded in July, deposit rates continued heading south
The interest rate on households’ new time deposits fell by another 11 basis points (bps) to 2.28 percent in July, according to the Bank of Greece (BoG).
OECD report paints grim picture for Greece's labour market
In its 2014 Employment Outlook published today, OECD retains its estimates for Greek unemployment rate unchanged at 27.1 percent in 2014 and 26.7 percent in 2015.
Paris talks mark start of Greece's most crucial troika review
The first round of the new review of Greece’s Economic Adjustment Program (EAP) is kicking off in Paris today and will last until September 4. The IMF spokesman has recently clarified that the aim of these meetings is to “discuss the way forward on the forthcoming review and is expected to be followed by the full mission to Athens in late September” for the full review.
Q2 GDP contraction at 0.3 pct, strong Q3 needed to achieve target of annual growth
Greek non-seasonally-adjusted GDP contracted 0.3 percent year on year (YoY) in the second quarter (Q2) of 2014 from -1.1 percent in Q1, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) today.
Greek PMI up to 50.1 in August, employment and profitability still falling
Greece’s Manufacturing PMI resumed an upward trend for the first time since April, rising by 1.4 points to 50.1 in August from 48.7 in July, according to Markit. This was the first reading above the 50-point mark - which separates growth from contraction - since May.
Piraeus Bank reports net profit of 164.3 mln in Q2
Piraeus Bank reported net profit of 164.3 million euros in Q2 from a loss of 246.6 million in Q1.
Eurobank reports net loss of 301.1 mln in Q2
Eurobank reported a net loss of 301.1 million euros in the second quarter (Q2) from 207.4 million in Q1.
Small but rare rise of 0.4 pct for Greek retail turnover in June
The turnover of Greece’s retail trade index rebounded 0.4 percent year on year (YoY) in June after falling by a revised 8.3 percent in May, according to the Hellenic Statistical Agency (ELSTAT).