After the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four agencies that the ECB has endorsed for its policy decisions.
The EBA announced at the end of last month the results of the EU-wide stress tests for 2023, which confirmed that the Greek banking sector has left behind the tumultuous period that followed the debt crisis when the exercise was usually a source of concern that unearthed capital shortcomings.
Greece’s employment balance in June was positive by 28,761 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
National Bank of Greece (NBG) reported a core profit after tax of 508 million euros in H1 2023, compared to a profit of 142 million euros in 2022, a significant rise year-on-year.
Greece’s seasonally adjusted (SA) unemployment rate landed at 11.1 percent in June, from an upwards revised 11.3 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Greece’s Manufacturing PMI remained in expansion territory in July, rebounding to 53.5 points, from 51.8 points in June, according to S&P Global data released on Tuesday.
Piraeus Bank posted a net profit of 300 million euros in H1 2023, with Q2 2023 profit at 120 million euros, up from 92 million in the same quarter of 2022.
Eurobank posted an adjusted net profit of 598.5 million euros in H1 2023, compared to a profit of 755 million euros last year, a drop of 20.7 percent.
Greece’s retail sales stayed positive in May, after the first negative reading in March since 2021, with a rise of 7.2 percent, year-on-year (YoY), from 1.7 percent rise in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Greece’s Producer Price Index (PPI) contracted for the fourth successive month in June, dropping by 11.7 percent year-on-year (YoY), after falling by 12.9 percent in May, ELSTAT data showed on Friday.