Economy
PMI drops to 52 pts in Sep as manufacturing sector continues to grow
Greece’s manufacturing PMI dropped significantly in September to 52 points, from 54.5 points in the previous month, S&P Global data showed on Wednesday.
Producer prices contract 1.7 pct YoY in Aug due to energy drop
Greece’s Producer Price Index (PPI) went further into contraction in August, with a drop of 1.7 percent year-on-year (YoY), after a decrease of 0.5 percent in July, ELSTAT data showed on Tuesday.
Retail sales up by 4 pct YoY in July as inflation drives volume rise of 2.1 pct
Greece’s retail sales accelerated growth with a 4 percent year-on-year (YoY) in July, after a 3 percent increase in June, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Economic sentiment drops sharply in Sep, consumer confidence at highest since June
Greece’s economic sentiment (ESI) dropped in September, with the index at 106.2 points, from 110 in the previous month, according to European Commission figures released on Monday.
Housing costs, food prices set limits to impact of tax cuts
The Greek government’s efforts to shift the narrative and change its political fortunes are crashing against the realities on the ground as reflected in the frequent data releases from Eurostat and ELSTAT.
Despite rise of 6.1 pct YoY in June, building permits down 13.8 pct in H1
Building activity growth slowed in June, with a rise of 6.1 percent year-on-year, after a jump of 31.6 percent YoY seen in May, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday.
Credit growth stable at 10.6 pct YoY in Aug
The credit expansion in the Greek private sector remained strong in August, rising by 10.6 percent year-on-year (YoY), virtually unchanged from the previous month, Bank of Greece (BoG) figures released on Thursday showed.
Deposits rise by 2 bln in Aug, reaching new recent high of 205.4 bln
The Greek banking system’s private sector deposits rose in August, with a net increase of 2.05 billion euros, after a drop of 1.15 billion euros in July, according to the latest Bank of Greece (BoG) figures released on Thursday.
Strong tax revenues, major underspend lead primary surplus 3.57 bln above target in Aug
The budget primary balance was confirmed at a surplus of 8.5 billion euros up to August, compared to a surplus of 7.57 billion euros in the same period a year earlier, according to the final Finance Ministry (MoF) budget execution data released on Thursday.
Moody's keeps rating unchanged at 'Baa3' - outlook stable
Moody’s left Greece’s rating and outlook unchanged on Friday, keeping them at ‘Baa3’ and stable respectively, in line with the latest reviews since April, when Fitch, Scope and DBRS kept Greece’s rating unchanged.