Economy
Building activity in Greece fell by nearly 40 pct in year to September
Greek building activity (as measured by the number of building permits) dropped by 14.4 percent in September with the respective surface figure easing 25.9 percent, while volume retreated 36.6 percent, according to the Hellenic Statistical Authority (ELSTAT).
Greek GDP shrinks 3 pct in Q3, on course to contract by 4 pct in 2013
Greek non-seasonally-adjusted GDP contracted 3 percent in the third quarter of 2013, confirming flash estimates released on November 14, according to provisional data published by the Hellenic Statistical Authority (ELSTAT) on Monday.
Tourism turnover index slows but signs remain positive
Turnover Index in Accommodation and Food Services rose 1.2 percent in the third quarter 2013, decelerating from the 5.2 percent posted in the second quarter, according to Hellenic Statistical Authority (ELSTAT). The improvement - one again - confirms the strong tourism season in Greece this year.
Greek primary surplus at 400 mln to Oct but arrears keep piling up
The Greek general government (gg) cash deficit to October fell by 50.8 percent to 4.41 billion with the gg cash primary surplus landing at 1.38 billion from 2.53 billion last year, the Ministry of Finance (MoF) said on Tuesday.
Manufacturing PMI in Greece hits a 51-month high in November
Greek Manufacturing PMI rose to a 51-month high of 49.2 in November from 47.3 in October as output at Greek manufacturers rose for the first time since September 2009, according to Markit. At the same time, new orders stabilised, after having fallen in the previous month, while the decrease in employment decelerated.
Has internal devaluation really helped Greek exports?
The performance of Greece’s exports has been one of the main disappointments of the troika-led program. One of the pillars of Greece’s adjustment was meant to be internal devaluation, which through a number of reforms that would stimulate growth, absorb the collapse of domestic demand and re-direct production and capital to tradable goods.
Greek retail sales tumbled another 6.4 pct in September
Retail sales headed south for yet another month with the contraction rate decelerating to 6.4 percent in September from 8.9 percent in August, according to Hellenic Statistical Authority (ELSTAT). A broadly similar trend and drop of 5.4 percent was also evident in retail volumes.
OECD's Greek debt forecast shakes foundations of troika DSA
The secretary general of the Organization for Economic Cooperation and Development (OECD), Angel Gurria, handed Antonis Samaras the Paris-based body’s Economic Survey for Greece on Wednesday. It contains staggering projections with regard to the country’s debt and gives the Greek prime minister and his cabinet much to think about.
Greek deposits slip in October as credit also contracts by 3.9 pct
Greek private sector deposits decreased by 0.6 percent month on month (mom) in October, with balances reaching 160.38 billion euros, according to the Bank of Greece (BoG). Net flow remained negative for the fifth consecutive month, with outflows slightly slipping at 630 million in October from 719 million in September.
Revenues at 4.77 bln in Oct, beating target for fourth straight month
The final budget execution to October confirmed preliminary figures, released by the Ministry of Finance (MoF) on November 13, showing revenues beating monthly targets by 763 million euros for the fourth straight month.