Economy
Positive sentiment around banks continues to grow
This year’s positive story around Greek banks is gaining momentum as systemic lenders appear to be leaving behind them the troubled era of the debt crisis and the sector is recording solid profitability hinged on the ECB’s tightening of monetary policy.
Industrial turnover drops by 10.2 pct in Jul, driven by foreign markets and manufacturing
Greece’s industrial turnover remained in contraction in July, dropping by 10.2 percent year-on-year (YoY), from a 16.3 percent decrease in June, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.
Current account deficit shrinks to 7 bln in 7 months as energy and imports ease
Greece’s current account produced a surplus of 827.5 million euros in July, from a deficit of 638.2 million euros in June, Bank of Greece (BoG) data showed on Wednesday.
Loans managed by servicers broadly stable in Q2 at 71.16 bln
The universe of loans managed by Credit Servicing Firms (CSF) has stabilised since Q4 last year and in Q2 2022 it stood at 71.16 billion euros, according to data released by the Bank of Greece (BoG) on Monday.
Tax revenues continue to outperform in Aug, as ministry explains frugal approach
The budget primary balance came to a surplus of 5.59 billion euros in August, compared to a surplus of 19 million euros in the same period of 2022, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Monday.
Moody's ups GGB rating by two notches, on par with S&P and Fitch
Moody’s upped on Friday night Greece’s credit rating by two notches to ‘Ba1’ with a stable outlook, coming on par with the other two leading rating agencies that had Greece one notch below the investment grade.
Wages growth slows to 4.3 pct YoY in Q2
Greece’s seasonally adjusted (SA) Wages Index maintained a solid growth trend in Q2, rising by 4.3 percent year-on-year, although it slowed from an upwards revised 6.3 percent in the first quarter of 2023, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Import prices dropped by 14.4 pct YoY in Jul, although energy segments rose MoM
The contraction of Greece’s import price index continued in July, falling by 14.4 percent year-on-year (YoY) after dropping by 19.4 percent in June, according to data released by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Q2 unemployment rate drops to 11.2 pct, employed increased by 3.4 pct QoQ
Greece’s non-seasonally adjusted quarterly unemployment rate moved only marginally in Q2 this year, dropping to 11.2 percent from 11.8 percent in the previous quarter, Hellenic Statistical Authority (ELSTAT) figures showed on Thursday.
Apartment prices rise in Q2 by a strong 13.9 pct YoY despite slight slowdown
The growth in the nominal value of apartments in Greece remained on a stolid path in Q2 2023, increasing by 13.9 percent year-on-year (YoY) from an upwards revised 15 percent in Q1 2023, Bank of Greece (BoG) data released on Tuesday showed.