Economy
Inflation slows to 11.6 pct in July as housing and transport costs rise sharply
Greece’s Consumer Price Index (CPI) remained at record high levels in July, rising by 11.6 percent year-on-year, though it did slow down from the 12.1 percent seen in June, according to the data released on Monday by the Hellenic Statistical Authority (ELSTAT).
Trade deficit soars by 71.6 pct in H1, reaching 17.59 bln
The rise in Greece’s trade deficit slowed down in June, but still increased by a sizable 42.7 percent year-on-year, according to data released by ELSTAT on Friday. This came after an 84.7 percent jump in May.
Balance of payments shows shipping on course for bumper year, but economic benefits unclear
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Shipping provided the one bright spot in Greece’s trade balance in May, with transportation contributing 2.16 billion in receipts, compared to 1.44 billion the same month last year, an increase of 50 pct
Piraeus Bank reports 614 mln profit in H1 after NPE de-risking drive in 2021
Piraeus Bank posted a net profit of 614 million euros in the first Half (H1) of 2022, from losses of 2.45 billion euros last year, due to 3 billion euros in clean-up impairments in H1 2021.
Business transformation brings profit of 243 mln euros for Alpha Bank in H1
Alpha Bank reported a net profit of 243 million euros in H1 2022, compared to a loss of 2.33 billion euros in the same period of 2021.
Impact of uncertainty on economy starting to emerge in hard data
The uncertainty of the Ukraine conflict, which is being felt primarily through the energy crisis and the swelling inflation wave, has been reflected for months in sentiment surveys and is now gradually filtering through in hard data, sending the first recessionary signals.
Manufacturing slips into contraction for first time since early 2021 as PMI drops by 2 pts in July
Greece’s Manufacturing PMI dropped by 2 points to 49.1 in July, according to S&P Global data released on Monday.
Lower trading income for NBG keeps net profits at 490 mln in H1
National Bank of Greece (NBG) reported a profit after tax of 490 million euros from continued operations in H1 2022, compared to a profit of 645 million euros in the same quarter of 2021, a drop of 24 pct.
Assisted by trading gains and cleaner balance sheet, Eurobank books 760 mln profit in H1
Eurobank posted an adjusted net income of 759.7 million euros in the first half of 2022 (H1), compared to a profit of 195.1 million euros last year.
Producer prices climb by 39.9 pct in June, but record first back-to-back monthly drops since 2020
The pace of Greece’s Producer Price Index (PPI) annual growth slowed down further, still with another explosive rise in June of 39.9 percent year-on-year, after shooting up by 43 percent in May, ELSTAT data said on Friday.