Economy
Piraeus completes Sunrise II securitisation as banks stay focused on NPE reduction
Piraeus Bank announced on Monday that it entered into definitive agreement with Intrum and Serengeti Asset Management for the sale of 49 pct of the mezzanine and 2 pct of the junior notes of the Sunrise II securitisation.
Trade deficit widens by 27.8 pct to 2.11 bln, led by oil products
Greece’s trade deficit increased by 27.8 percent year-on-year (YoY) in September, from 43.3 percent in August, according to data from the Hellenic Statistical Authority (ELSTAT) released on Friday.
Discussion over PEPP, SGP draw attention to rising yields
The Greek sovereign debt market has enjoyed a buoyant period, largely thanks to the participation of the GGBs in the ECB’s emergency asset purchase of the pandemic codenamed PEPP, which pushed borrowing costs for the Greek state to historic lows.
PMI grows for eighth month despite supply chain, inflation challenges
Greece’s manufacturing PMI edged up to 58.9 points in October, from 58.4 in September, according to Markit data released on Monday.
Retail sales grow for fifth month in a row but rate eases to 8.8 pct
Growth in Greece’s retail sales slowed down in August, rising by 8.8 percent year-on-year (YoY), from a slightly downward revised 13.1 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Economic sentiment picks up again in Oct but consumer confidence drops for fifth month
Greece’s economic sentiment (ESI) continued growing in October, when it rose by 3.7 points month-on-month (MoM) to 112.4 points after dropping by 3.3 points in September, according to European Commission figures released on Thursday.
Deposits rise by 443 mln in Sep, but flow drops significantly
The net private sector deposit movement in the Greek banking system decelerated in September to 443 million euros, after an increase of 1.48 billion euros seen in August, based on Bank of Greece (BoG) figures released on Wednesday.
Credit expansion slows to 0.7 pct in Sep as loans to enterprises lead way
Credit movement in the Greek private sector increased by 0.7 percent year-on-year (YoY) in September, from 0.8 percent in August, according to Bank of Greece (BoG) figures released on Wednesday.
Disposable income rises by 7 pct in Q2 as economy recovers, savings still positive
Household disposable income increased by 7 percent year-on-year in the second quarter (Q2), from 5.1 percent in the first quarter (Q1) of 2021, according to Hellenic Statistical Authority (ELSTAT) data released on Tuesday.
Tax revenue overperformance in Sep confirmed, primary budget deficit at 5.96 bln
The budget primary balance was confirmed at a deficit of 5.96 billion euros in the first nine months of 2021, compared with a deficit of 7 billion in the same period last year, the final Finance Ministry (MoF) budget execution data showed on Monday.