Economy
NBG net profit at 983 mln in 9M, NII up by 9 pct at 1.78 bln
National Bank of Greece (NBG) reported a core profit after tax of 983 million euros in 9M 2024, compared to a profit of 855 million euros in the same period of 2023, a rise of 15 percent year-on-year (YoY).
Eurobank NII jumps by 14.3 pct YoY to 1.83 bln in 9M
Eurobank posted a net profit of 1.13 billion euros in 9M, compared to 980.1 million euros in the same period of 2023.
CPI moderates to 2.4 pct YoY in Oct, food inflation below headline number
The growth in Greece’s Consumer Price Index (CPI) moderated in October with a rise of 2.4 percent year-on-year (YoY), after an increase of 2.9 percent in the previous month, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Industrial production growth slows to 2.4 pct YoY in Sep, led by manufacturing rise
Greece’s Industrial Production Index (IPI) slowed in September growing by 2.5 percent year-on-year (YoY), after a 3.3 percent increase in the previous month, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
Trade deficit up sharply in Sep, reaches 25.13 bln in 9M for 8.5 pct YoY rise
Greece’s trade deficit rose sharply by 12.9 percent year-on-year (YoY) in September, after a drop of 6.5 percent in August, according to data released by ELSTAT on Thursday.
Spotlight on challenges to labour productivity growth
Labour productivity has been an ongoing challenge for the Greek economy even before the 2010 debt crisis and is set to become more prominent from 2028 as it will be one of the components of the formula that will determine the minimum wage.
Piraeus NII at 1.58 bln in 9M, commission income at 480 mln
Piraeus Bank posted a net profit after tax of 932 million euros in 9M 2024, from 721 million euros up to September last year.
PMI shows slight improvement in Oct, sector outlook improves
Greece’s Manufacturing PMI recorded a moderate recovery in October, rising to 51.2 points, from 50.3 points in September, according to S&P Global data released on Friday.
Drop in retail sales accelerates to 1.8 pct YoY in Aug, fall in volumes sharper
Greece’s retail sales saw an accelerated drop of 1.8 percent year-on-year (YoY) in August, after a marginal decline of 0.2 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Unemployment drops further in Sep, dipping to 9.3 pct
Greece’s seasonally adjusted (SA) unemployment rate remained below the 10 percent mark in September, dropping further to 9.3 percent, from 9.5 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.