Economy
Big drop in March sees PMI settle at 42.5 pts as Covid-19 measures bite
Greece’s manufacturing PMI dropped to 42.5 points in March from 56.2 points in February, according to the latest data from Markit PMI.
OECD sees Greek economy most at risk from Covid-19, with impact reaching up to 35 pct of GDP
The Organisation for Economic Cooperation and Development published on Monday a report that evaluates the initial impact on economic activity of containment measures taken around the globe against the spread of the coronavirus.
Retail turnover up by 10.1 pct in January
Greece’s retail sales index increased by 10.1 percent in January following an upward revised rise of 2.2 percent in December, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Govt augments support for businesses, workers as total outlay on economic boost reaches 6.8 bln
The government has announced a fourth wave of measures aimed at supporting struggling businesses and workers amid the Covid-19 crisis as this year’s budget comes under further strain.
Piraeus Bank posts net profit of 49 mln in Q4 and 270 mln in 2019
Piraeus Bank’s final quarter (Q4) results showed profits of 189 million euros compared to a net profit of 49 million euros in Q3 2019.
Hellenic Exchanges posts net profits of 6.1 mln in 2019
Athens Stock Exchange’s (ATHEX) full-year results showed that group turnover was up by 25.8 percent year-on-year (YoY) at 32.2 million euros compared to 25.6 million last year.
Economic sentiment at 109.4 in March
Greece’s economic sentiment (ESI) fell by 3.8 points month-on-month in March to reach 109.4 points, European Commission (EC) figures showed on Monday.
Alpha Bank posts net profits of 97.1 mln in 2019
Alpha Bank reported net profits of 5.6 million euros for the fourth quarter (Q4) of 2019 compared to net profits of 4.7 million euros in Q3.
Greece braces for recession, hopes to bounce back from summer onwards
The extent of the damage that could be inflicted on the Greek economy as a result of the coronavirus impact is becoming clearer by the day, with the Finance Ministry and leading investment houses now expecting Greece to slip into a recession again this year.
Credit contraction at 0.7 pct in Feb, balance at 153.74 bln
Credit contraction in the Greek market came to 0.7 percent in February, slightly deepening from a contraction of 0.6 percent in January, Bank of Greece (BoG) figures showed on Thursday.