Economy
As base effect wears off, producer prices fall by just 0.1 pct in Mar
Greece’s Producer Price Index (PPI) recorded only a marginal contraction in March, dropping by 0.1 percent year-on-year (YoY), after falling by 4.3 percent in February, ELSTAT data showed on Tuesday.
Retail sales and volumes show worrying signs, turnover down 3.8 pct in Feb
Greece’s retail sales went deeper into contraction in February, with a drop of 3.8 percent year-on-year (YoY), after an upwards revised decline of 3 percent in January, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Corporate taxation, underspend lead to 3 bln primary surplus in March
The budget primary balance was confirmed at a surplus of close to 3 billion euros in March, compared to a surplus of 3.08 billion euros in the same month of 2023, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
Sentiment unchanged in April thanks to services gains, consumer confidence also rises
Greece’s economic sentiment (ESI) remained broadly unchanged in April at 108.5 points, after a strong recovery in March, from 108.4 points in the previous month, according to European Commission figures released on Monday.
Credit expansion grows by 4.5 pct in Mar, driven by corporations
The credit expansion in the Greek private sector picked up even more pace further in March, rising by 4.5 percent year-on-year (YoY), up from 3.8 percent in February, Bank of Greece (BoG) figures released on Friday showed.
Deposits reverse contraction in Mar with 1.67 bln growth
The net private sector deposits in the Greek banking system increased in March with a rise of 1.67 billion euros, after a 1.07 billion euros drop in February, based on the latest Bank of Greece (BoG) figures released on Friday.
Building permits start year strongly with 15.1 pct rise in Jan
Building permits started the new year strongly with a rise of 15.1 percent year-on-year (YoY), after a modest 0.6 percent increase in December, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday.
March hirings balance hits new high, boosted by seasonal jobs in catering and accommodation
Greece’s employment balance was strong in March, with 63,689 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
Strong demand for 30-year benchmark bond, yield of 4.24 pct double 2021 rate
Greece’s debt managers leveraged the positive sentiment after S&P’s revision of the outlook for Greek Government Bonds (GGB) to positive last Friday and issued a new 30-year bond on Wednesday, the longest maturity since the same issuance in early 2021.
ECB study finds Greeks overburdened by housing costs, most likely to miss payments
The European Central Bank published this week research, based on the ECB’s Consumer Survey, that analyses housing costs for the eurozone’s eleven largest countries which captures the rising housing spending, on expenditures related to rents or mortgages, home maintenance and utility bills.