Economy
Greek GDP up 0.7 pct in Q3 for third straight quarter of growth
The Greek non-seasonally adjusted (NSA) GDP at constant prices posted a growth of 1.9 percent year on year (YoY) in Q3, higher than the flash estimate of 1.7 percent, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) on Friday.
Credit down by 3.2 pct in Oct for lowest contraction since Dec 2011
The rate of credit contraction in Greece decelerated to 3.2 percent in October from 3.5 percent in September, according to the Bank of Greece (BoG). This was the lowest negative reading since December 2011.
Greek retail index down 0.9 pct in Sept. although volume increases
After increasing in the preceding three months, the turnover of Greece’s retail trade index fell by 0.9 percent in September following a downward revised 4.4 percent rise in August, according to the Hellenic Statistical Agency (ELSTAT).
Greek economic sentiment and consumer confidence up again in November
Greece’s economic sentiment rose for the second consecutive month in November, increasing to 102.7 from 102.2 in October, according to the European Commission (EC).
Regional airports deal represents biggest privatisation yet for Greek government
Hellenic Republic Asset Development Fund (HRADF) declared on Wednesday the Fraport AG–Slentel Ltd (subsidiary of Copelouzos group) consortium as the preferred of three bidders for the regional airports’ tender.
Piraeus Bank posts net loss of 1.56 bln in Q3
Piraeus Bank posted a net loss of 1.56 billion euros in the third quarter (Q3) of 2014 from a profit of 164.3 million in Q2, according to results published late on Tuesday.
Target revisions leave 880 mln budget shortfall in Oct despite 2.6 bln primary surplus
Greece’s budget execution showed a primary surplus of 2.65 billion euros in the 10-month period, according to the final data released by the Ministry of Finance (MoF) on Tuesday.
Greek trade deficit widens 34.2 pct in Sept as exports slip for third month
Greece’s trade deficit widened by 34.2 percent in September after a drop of 29.5 percent in August, according to the Hellenic Statistical Authority (ELSTAT).
Unpaid taxes up to 1.22 bln in October as total reaches 71.2 bln
Greece’s unpaid taxes rose to 1.22 billion euros in October from 1.03 billion in September, according to data provided by the General Secretariat of Information Systems (GSIS) on Tuesday.
OECD sees more growth, falling unemployment in Greece
In its latest Economic Outlook report published on Tuesday, OECD upward revised its GDP forecasts for Greece and is now expecting growth of 0.8 percent for 2014 from recession of 0.3 percent in its previous estimates published on May 6.