Economy
Trade deficit narrows by 14.9 pct in June despite sharp exports drop
Greece’s trade deficit recorded a drop of 14.9 percent year-on-year (YoY) in June, after a drop of 11 percent in May, according to data released by ELSTAT on Monday.
Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
After the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four agencies that the ECB has endorsed for its policy decisions.
Stress tests not proving stressful for Greek banks any longer
The EBA announced at the end of last month the results of the EU-wide stress tests for 2023, which confirmed that the Greek banking sector has left behind the tumultuous period that followed the debt crisis when the exercise was usually a source of concern that unearthed capital shortcomings.
Waiters and hospitality jobs lead way as hiring balance improves YoY in June
Greece’s employment balance in June was positive by 28,761 more hires than departures, according to data from the Labour Ministry’s Ergani information system.
NBG's NII jumps 75 pct to 1.05 bln in H1
National Bank of Greece (NBG) reported a core profit after tax of 508 million euros in H1 2023, compared to a profit of 142 million euros in 2022, a significant rise year-on-year.
Unemployment rate hits 11.1 pct in June as recovery loses steam
Greece’s seasonally adjusted (SA) unemployment rate landed at 11.1 percent in June, from an upwards revised 11.3 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
PMI records 6 months of improved manufacturing conditions, but outlook less upbeat
Greece’s Manufacturing PMI remained in expansion territory in July, rebounding to 53.5 points, from 51.8 points in June, according to S&P Global data released on Tuesday.
Piraeus Bank NII at 881 mln in H1 after nearly doubling YoY in Q2
Piraeus Bank posted a net profit of 300 million euros in H1 2023, with Q2 2023 profit at 120 million euros, up from 92 million in the same quarter of 2022.
Eurobank's NII jumps by 56.2 pct in H1 to more than 1 bln
Eurobank posted an adjusted net profit of 598.5 million euros in H1 2023, compared to a profit of 755 million euros last year, a drop of 20.7 percent.
Inflation boosts food sales by 12 pct in May, supermarkets up by 14.3 pct
Greece’s retail sales stayed positive in May, after the first negative reading in March since 2021, with a rise of 7.2 percent, year-on-year (YoY), from 1.7 percent rise in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday.