Economy
July trade deficit lands at 715 mln as imports post biggest drop on record
Greece’s trade deficit plummeted by 63.1 percent in July from a drop of 14.1 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
General gov't primary cash surplus markedly better in July but arrears climb
The general government (gg) primary cash surplus narrowed by 18 percent to 2.35 billion euros in the 7-month period of 2015 from 2.87 billion last year, according the gg bulletin published by the Ministry of Finance (MoF) on Monday.
Even week for Greek stocks but trading thins out
Greek shares ended the week with gains of 2 percent following a broadly stable performance but trading activity remained extremely thin throughout the week, with Wednesday’s turnover being the second lowest since August 2012.
EC study: VAT gap in Greece at 34 pct, more than double the EU average
The European Commission published a study on Friday that examines the evolution of the VAT gap across the EU according to the latest available data for 2013.
Report sees fall in salary earners, big rise in part-time work during crisis
A new annual report from the Labour Institute (INE) of the General Confederation of Greek Workers (GSEE) highlights the devastating impact that the recession and austerity measures have had on the local labour market over recent years.
The ins and outs of the Greek bank recapitalisation process
As the dust settles from Greece’s whirlwind agreement with lenders in August, attention is falling on the recapitalisation process for Greek banks.
Marked drop of 50 bps in new time deposit rate in July amid capital controls
After remaining broadly stable at around 1.8 percent since last December, Greek households’ new time deposit rate recorded a marked drop by 50 basis points (bps) to 1.31 percent in July, according to the Bank of Greece (BoG).
Lack of new orders and sharp drop in production lead to weak PMI in August
After reaching a record low in July, Greece’s Manufacturing PMI improved by 8.9 points to 39.1 in August, according to Markit.
Study shows deep impact of capital controls on retail sector
A study published by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) highlights the devastating impact on retail sales from the imposition of capital controls.
Retail sales fell by 1.7 percent in June, after a short-lived rise in May
After a short-lived rise by 2.4 percent in May, the turnover of Greece’s retail trade index fell by 1.7 percent in June, according to the Hellenic Statistical Agency (ELSTAT).