Economy
Despite job losses in Q4 2021, year closes with positive hirings balance
Greece’s employment balance remained negative in December as departures outpaced hires by 2,598, according to data from the Labour Ministry’s Ergani information system.
Budget primary deficit improves by 7.2 bln YoY in 2021, beats target by nearly 2 bln
The budget primary balance for the full year landed at a deficit of 10.99 billion euros in 2021, compared to a deficit of 18.2 billion in 2020, according to the preliminary Finance Ministry (MoF) budget execution data released on Monday.
Fitch improves outlook to positive, sees investment grade hinging on fiscal performance and banks
Fitch got the schedule of rating reviews in the new year underway with an upgrade of Greece’s outlook to positive from stable, while it reaffirmed the rating at ‘BB’.
Car sales continue to grow in Dec for rise of 23 pct in full year
Road motor vehicles going into circulation for the first time rose by 21.4 percent year-on-year (YoY) in December, from a 20.7 percent rise in November, according to Hellenic Statistical Authority (ELSTAT) data released on Friday.
CPI rise of 5.1 pct in Dec highest since 2011 as electricity, gas and heating oil drive price hikes
Greece’s Consumer Price Index (CPI) accelerated in December, rising by 5.1 percent year-on-year (YoY), following an equally strong movement of 4.8 percent in November, according to the latest data from the Hellenic Statistical Authority (ELSTAT) released on Thursday.
Another strong rise of 8 pct for industrial production in Nov, led by manufacturing
Greece’s Industrial Production Index (IPI) recorded a notable rise of 8 percent year-on-year (YoY) in November, slowing down from the jump of 16.5 percent in October, according to Hellenic Statistical Authority (ELSTAT) data released on Monday.
Trade deficit nearly doubles to 2.77 bln in Nov; largest since March 2012
Greece’s trade deficit nearly doubled in November, jumping by 93.1 percent year-on-year (YoY), from a rise of 52.8 percent in October, according to data released by the Hellenic Statistical Authority (ELSTAT) on Friday.
Economic sentiment drops by 3.1 pts in Dec, little change in consumer confidence over year
Greece’s economic sentiment (ESI) took a pause in December, dropping by 3.1 points to 110.3, from 113.4 in November, according to European Commission figures released on Friday.
Piraeus seals 400 mln NPE sale as banks gear up for more balance sheet transactions in 2022
Piraeus Bank announced on Tuesday that it has reached a final agreement with Davidson Kempner for the sale of a shipping NPE portfolio with a gross book value of 400 million euros.
PMI up to 59 pts in Dec as manufacturing nears year of growth despite supply chain challenges
Greece’s manufacturing PMI edged up slightly in December to 59 points, from 58.8 in November, according to Markit data released on Monday.