Economy
Unemployment drops to 10.8 pct in Jan, lowest since debt crisis began
Greece’s seasonally adjusted (SA) unemployment rate experienced a notable drop in January, falling to 10.8 percent, from an upwards revised 12.4 percent in December, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Budget beats target in Jan, boosted by 49 pct YoY jump in taxes on goods and services
The budget primary balance in January was confirmed to be a surplus of 2.77 billion euros, compared to a surplus of 15 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Tuesday.
Credit expansion for private sector grows 5.7 pct YoY in Jan, but flow turns negative
Credit movement in the Greek private sector slightly decelerated in January but still recorded a solid rise of 5.7 percent year-on-year (YoY), from 6.3 percent in December, Bank of Greece (BoG) figures released on Tuesday showed.
Deposits drop by 4.5 bln in Jan, reversing previous month's marked increase
The net private sector deposit movement in the Greek banking system dropped by 4.5 billion euros in January, reversing December’s impressive rise, when it jumped by 5 billion euros, based on the latest Bank of Greece (BoG) figures released on Tuesday.
Producer prices slow further to 13.5 pct YoY in Jan, but rise MoM
The pace of Greece’s Producer Price Index (PPI) continued to slow in January, when it rose by 13.5 percent year-on-year (YoY), following a 16.5 percent increase in December, ELSTAT data showed on Tuesday.
Building permits grow by 9 pct in Nov, up 3.9 pct over 11M
Building permits stayed on a growth trend in November thanks to a rise of 9 percent year-on-year (YoY), after an increase of 8.2 percent in October, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Tuesday.
Growth of retail sales slows to 8.8 pct in Dec amid decline in volume of food sold
The growth in Greece’s retail sales slowed down in December, rising by 8.8 percent year-on-year (YoY), from 12.6 percent growth in November, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Balance sheet clean-up spurs Piraeus to net profit of 899mln, 1.22bln NII in 2022
Piraeus Bank posted a net profit of 899 million euros in the full year 2022, from losses of 3 billion euros last year, due to 3.87 billion euros in clean-up impairments in 2021.
Economic sentiment improves for fourth straight month in Feb
Greece’s economic sentiment (ESI) continued its recovery trend in February, rising by 1.6 points to 107.5, from an upwards revised 1.8 points in January, according to European Commission figures released on Monday.
Survey highlights households struggling with cost of living, delivers worst outlook since 2019
The effects of the cost-of-living crisis in Greece were summed up in another business association survey as the Hellenic Confederation of Professionals, Craftsmen, and Merchants (GSEVEE) published its latest household income and budget survey for 2022.