Economy
Further loss of manufacturing momentum in Aug, optimism at lowest since 2022
Greece’s Manufacturing PMI continued to moderate in August, dropping to 52.9 points, from 53.2 points in July, according to S&P Global data released on Monday.
Producer prices record first rise for 16 months, inching up by 0.1 pct in Jul
Greece’s Producer Price Index (PPI) recorded a positive movement in July, rising by 0.1 percent year-on-year (YoY), after falling by 0.7 percent in June, ELSTAT data showed on Friday.
Retail sales rise by 7.4 pct YoY in June, led by fuels
Greece’s retail sales continued growing in June with a 7.4 percent year-on-year (YoY) rise, after an increase of 14.3 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment slides further in Aug, consumer confidence drops sharply
Greece’s economic sentiment (ESI) contracted further in August, reaching 106.3 points, from 106.8 in the previous month, according to European Commission figures released on Thursday.
Unemployment rate edges up to 9.9 pct in July
Greece’s seasonally adjusted (SA) unemployment rate remained below the 10 percent mark in July, though rising to 9.9 percent, from 9.5 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Deposits drop by 607 mln in July, led by corporate savings
The net private sector deposits in the Greek banking system shrunk in July with a drop of 607 million euros, after a 3.83-billion-euro jump in June, according to the latest Bank of Greece (BoG) figures released on Wednesday.
Credit flow turns negative in July with outflow for corporations at 1 bln
The credit expansion in the Greek private sector kept up its recent pace in July, rising by 6.4 percent year-on-year (YoY), from 6.1 percent in the previous month, Bank of Greece (BoG) figures released on Wednesday showed.
Building activity's upward course halts in May with 19.6 pct YoY drop
The strong start to the year for building activity halted in May, with a sharp drop of 19.6 percent year-on-year (YoY), after a rise of 40.1 percent in April, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Wednesday.
Corporate, income taxes and VAT propel tax outperformance in July above 2 bln
The budget primary balance was confirmed at a surplus of 5.67 billion euros in July, compared to a surplus of 3.56 billion euros in the same month a year earlier, according to the final Finance Ministry (MoF) budget execution data released on Monday.
Bumper results for banks add to frustration over interest rates, fees
Over recent weeks, the Greek systemic banks released another set of solid results for H1, with strong profitability and building on last year’s performance that allowed them to distribute total dividends exceeding 900 million euros, the first distribution to shareholders in 16 years.