Economy
GDP shows strong recovery from lockdowns with 3.4 pct growth QoQ in Q2
Greece’s seasonally adjusted (SA) GDP rose by 3.4 percent quarter-on-quarter (QoQ) in the second (Q2) quarter of the year, from a slightly upwards revised 4.5 percent in the first quarter (Q1) of 2021, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
General govt balance deteriorates due to deficits of state and social security funds
Greece’s general government (gg) deficit came to 9.36 billion euros in the first seven months of the year, compared with a deficit of 5.96 billion euros in the same period of 2020, according to the Finance Ministry’s (MoF) latest monthly gg bulletin.
Strong response to dual bond transaction takes 2021 debt issuance to 14 bln
Greece’s debt manager successfully completed the fifth syndicated transaction of the year through a dual transaction of the re-opening of the existing 5-year bond due February 2026 and the 30-year that was maturing in January 2052.
Manufacturing PMI up to 59.3 pts amid ongoing concerns over supplier delays, input prices
Greece’s manufacturing PMI rose to 59.3 points in August, from 57.4 points in July, signalling the marked improvement in the Greek manufacturing sector, Markit data showed on Wednesday.
Eurobank profitability accelerates in second quarter, at 190 mln in H1
Eurobank posted a net income of 190 million euros in the first half (H1) of the year, compared to a loss of 1.17 billion euros in the same period last year.
Retail turnover rises by 11.7 pct and volume by 10.8 pct in June
Greece’s retail sales index rose by 11.7 percent in June following a revised increase of 14.8 percent in May, Hellenic Statistical Authority data showed on Tuesday.
Economic sentiment rises to 113 points in August, but consumer and retail confidence slide
Greece’s economic sentiment (ESI) rose by 1.8 points month-on-month in August to reach 113 points, European Commission figures showed on Monday.
Alpha Bank posts net loss of 2.04 bln in Q2 after booking Galaxy Project securitization
Alpha Bank reported a net loss of 2.04 billion euros for the second quarter (Q2) of 2021, compared to a loss of 282.2 million euros in Q1, after booking losses from its Galaxy NPE portfolio securitization.
Credit growth in July slows to 1.2 pct; monthly outflow of 532 mln
Credit movement in the Greek private sector rose an annual 1.2 percent in July, compared with 2.3 percent in June, Bank of Greece (BoG) figures showed on Thursday.
Deposits rose by 1.84 bln in July
Net deposit movements in the Greek banking system continued to rise in July, increasing by 1.84 billion euros compared with inflows of 1.62 billion euros in June, Bank of Greece (BoG) figures revealed.