Economy
Greece sees Manufacturing PMI move into growth for first time since August 2009
Greece’s Manufacturing PMI improved by 1.6 points for the third consecutive month in January reaching 51.2 points from 49.6 in December, according to Markit.
Sales season pushes November retail volume to growth for the first time since March 2010
Retail sales turnover stayed flat year on year (yoy) in November following a 2.1 percent drop recorded in October, according to Hellenic Statistical Authority (ELSTAT). The headline figure posted a non-negative yoy reading for the first time since June 2010.
Deposits up again in December but credit contraction continues apace
Greek private sector deposits increased 1.4 percent month on month (mom) for the second straight month in December with balances reaching 163.25 billion euros, according to the Bank of Greece (BoG).
Another dive for compensation in Q3 drags disposable income, consumption down
Greek household disposable income fell by 2.6 billion euros or 8 percent year on year (yoy) in the third quarter of 2013 and reached 30.4 billion, according to the Hellenic Statistical Authority (ELSTAT).
C/A balance positive by 1.4 bln to Nov, 2013 surplus in sight
Greece's November current account (C/A) balance showed the deficit marginally shrinking to 744 million euros from 753 million last year, according to the Bank of Greece (BoG).
Narrowing of trade deficit slows in November as exports fall 22.5 pct
Greece’s trade deficit narrowed 2.4 percent to 1.54 billion euros in November, while the respective 11-month figure fell 12 percent to 17.86 billion, according to the Hellenic Statistical Authority (ELSTAT).
A closer look at Greece's 2013 budget primary surplus of 603 mln
Greece’s 2013 budget execution showed a primary surplus of 603 million euros from a deficit of 3.46 billion the previous year, according to the final data released by the Ministry of Finance (MoF).
Greek banks' capital backstop and the funding gap: An uneasy relationship
The recapitalisation of Greek banks carried out in June 2013 put an end (at that time) to a long period of uncertainty regarding the bolstering of their capital base and ability to raise fresh money from private investors.
Greek banks' reliance on Eurosystem funding rose in December for first time since April
Greek banks’ Eurosystem funding, the combined liquidity they have received from the European Central Bank (ECB) and the Bank of Greece (BoG) Emergency Liquidity Assistance (ELA) mechanism, rose by 2.92 billion euros in December, according to the BoG’s 2013 annual accounts.
Greece records primary cash deficit in 2013
Greece’s 2013 central government net balance on a cash basis showed the deficit widening by 19.6 percent to 12.79 billion euros from 10.7 billion last year, according to the Bank of Greece (BoG).