Economy
CPI stable at 2.3 pct in June, food prices drop below headline figure for first time since 2022
The growth in Greece’s Consumer Price Index (CPI) moderated slightly in June with a rise of 2.3 percent year-on-year (YoY), after an increase of 2.4 percent in the previous month, according to the data released on Tuesday by the Hellenic Statistical Authority (ELSTAT).
Ongoing rise in imports and tame exports elevate trade deficit to 3.39 bln in May
Greece’s trade deficit recorded a solid rise of 13.6 percent year-on-year (YoY) in May, after a jump of 35.6 percent in April, according to data released by ELSTAT on Monday.
Hotel and catering jobs propel May hiring balance to new record
Greece’s employment balance had another solid month in May, with 126,660 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
Reports raise questions about some economic policy decisions
Two reports published last week highlighted issues that have placed the government under pressure from the opposition parties over the last few months and raise questions about some of the policy decisions taken by the ruling conservatives.
Unemployment rate almost unchanged at 10.6 pct in May
Greece’s seasonally adjusted (SA) unemployment rate stayed virtually unchanged in May, landing at 10.6 percent, from 10.7 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Manufacturing continues to improve, but June PMI weakest of year
Greece’s Manufacturing PMI continued to moderate in June, dropping to 54 points, from 54.9 points in May, according to S&P Global data released on Monday.
Producer prices down by 1.4 pct YoY in May, headed by energy
Greece’s Producer Price Index (PPI) remained in contraction in May, dropping by 1.4 percent year-on-year (YoY), after falling by 1 percent in April, ELSTAT data showed on Friday.
Led by a sharp drop in food sales, retail contracts by 1.4 pct YoY in Apr
Greece’s retail sales resumed the contraction in April with a 1.4 percent year-on-year (YoY) drop, after a strong rebound of 11.1 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Corporations lead way as deposits rise by 303 mln in May
The net private sector deposits in the Greek banking system slowed in May with a rise of 303 million euros, after a 384-million-euro rise in April, based on the latest Bank of Greece (BoG) figures released on Thursday.
Credit expansion reaches just 66 mln of inflows in May
The credit expansion in the Greek private sector was little changed in May, rising by 4.8 percent year-on-year (YoY), from 4.5 percent in the previous month, Bank of Greece (BoG) figures released on Thursday showed.