Economy
April drop of 9.9 pct for industrial production largest since 2011 as virus takes toll
Greece’s Industrial Production Index (IPI) decreased by 9.9 percent year-on-year (YoY) in April following a slightly downward revised increase of 0.4 percent in April, Hellenic Statistical Authority (ELSTAT) data revealed on Friday.
Trade deficit falls by 30.3 pct in April as Covid-19 restrictions hit trade
Greece’s trade deficit fell by 30.3 percent year-on-year (YoY) in April compared to a drop of 7.9 percent in March, data from the Hellenic Statistical Authority (ELSTAT) released on Friday showed.
ECB boost for Greek debt as authorities ponder new market foray
Greece was buoyed by the European Central Bank on Thursday, following its announcement that the emergency pandemic purchase programme (PEPP) will be extended beyond the end of 2020.
PPC and Motor Oil Hellas report losses for Q1
Greece’s largest power company, the majority state-owned Public Power Corporation (PPC), revealed that revenue rose by 7.1 percent during the first quarter (Q1) of 2020.
Overall loan interest at 4.05 pct in April, hitting new series low
The overall weighted average interest rate on all new loans to households and non-financial corporations was almost unchanged month-on-month 4.05 percent in April from 4.06 percent in March, data from the Bank of Greece (BoG) showed on Friday.
Apartment prices rise by 6.9 pct in Q1
The rise in the nominal value of apartments in Greece came to 6.9 percent year-on-year (YoY) in the first quarter (Q1) of 2020 from a revised increase of 7.6 percent in Q4 2019, Bank of Greece (BoG) data showed on Thursday.
GDP falls by 1.6 pct QoQ in Q1 and by 0.9 pct YoY
Greece’s seasonally adjusted (SA) GDP fell by 1.6 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2020 after a decrease of 0.7 percent in Q4 2019, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Thursday.
GEK Terna posts net profits of 55.7 million in 2019
Greek construction and energy group GEK Terna has released its financial statements for the year 2019 which showed that group revenue came to 1.16 billion, a decrease of 17.5 percent compared to the previous year.
Piraeus Bank posts net loss of 232 mln in Q1 due to Covid-19 impact
Piraeus Bank’s first quarter (Q1) results revealed a net loss of 232 million euros compared to a net profit of 189 million euros in Q4 2019.
PMI rises to 41.1 points in May but manufacturer pessimism persists
Greece’s manufacturing PMI increased to 41.1 points in May from 29.5 points in April, according to the latest data from Markit PMI.