Economy
EC summer forecast sees growth edging up to 4.3 pct, driven by RRF
The European Commission continues to marginally revise upwards its forecasts for Greece’s growth: In the latest summer forecasts released on Wednesday it sees the economy growing by 4.3 pct in 2021, from the 4.1 pct expected in May.
Alpha Bank buoyed by 800-mln-euro share capital raise
Alpha Bank announced on Friday the successful completion of its 800-million-euro share capital raise, following a three-day book building process, with the price set at 1 euro per share.
PMI up to 58.6 pts in June on strongest rise in new orders for 21 years
Greece’s manufacturing PMI in June reached 58.6 points, from 58 points in May, signaling the ongoing improvement in market conditions in Greece, as compiled by Markit.
Retail sales soar by 38.9 pct YoY in April, a year after first lockdown
Greece’s retail sales index jumped by 38.9 percent year-on-year (YoY) in April, following a revised drop of 2.9 percent in March, according to Hellenic Statistical Authority data released on Wednesday.
Economic sentiment stable in June, but consumer confidence drops
Greece’s economic sentiment (ESI) remained broadly stable in June at 108.7, following the sharp rise in May by 10.7 points to 108.6 points, according to European Commission figures released on Tuesday.
BoG sees growth of 4.2 pct this year but warns of multiple challenges ahead
The Bank of Greece issued on Monday the Monetary Policy Report for 2020-2021, which was submitted to the Parliamentary Speaker and the Cabinet.
Q1 unemployment at 17.1 pct amid drop in employed, rise in inactives
Greece’s non-seasonally adjusted unemployment rate came to 17.1 percent in the first quarter (Q1) of the year, increasing by 0.9 percentage points from the last quarter of 2020, Hellenic Statistical Authority (ELSTAT) figures showed on Monday.
Budget primary deficit at 8.14 bln by end-May, almost 1 bln off target
The budget primary balance was confirmed at a deficit of 8.14 billion euros in the first five months of the year, compared to a deficit of 4.84 billion in the same period of 2020, the final Finance Ministry (MoF) budget execution bulletin for May showed on Monday.
Credit growth in May slows to 2.2 pct; monthly flow -17 mln
Credit movement in the Greek private sector rose an annual 2.2 percent in May, compared with 2.4 percent in April, Bank of Greece (BoG) figures showed on Friday.
Deposits edged up further as they rose by 359 mln in May
Net deposit movements in the Greek banking system continued to grind higher, increasing by 359 million euros in May, compared with inflows of 3.13 billion euros in April, Bank of Greece (BoG) figures revealed.