Economy
PMI edges up to 49.4 points in August, employment rises
Greece’s manufacturing PMI increased slightly to 49.4 points in August compared to 48.6 points in July, according to the latest data from Markit.
Retail turnover drops by 6.9 pct in June, volume drops by 7.3 pct
Greece’s retail sales index decreased by 6.9 percent in June following a revised drop of 4.6 percent in May, Hellenic Statistical Authority (ELSTAT) data showed on Monday.
Hellenic Petroleum, OTE, report impacted results due to lockdown
Greece’s largest oil refinery, Hellenic Petroleum, issued financial results for the first half (H1) of the year that show the group’s sales fell by 33 percent during the period in question.
Economic sentiment at 90.7 in Aug, construction and retail dip
Greece’s economic sentiment (ESI) edged down by 0.1 points month-on-month in August to reach 90.7 points, European Commission (EC) figures showed on Friday.
Credit growth up by 1.5 pct in July
Credit movement in the Greek private sector rose by 1.5 percent in July after an increase of 0.4 percent in June, Bank of Greece (BoG) figures showed on Thursday.
Bank deposits rise by 3.32 bln in July
Net deposit movements in the Greek banking system were positive by 3.32 billion euros in July, up sharply from inflows of 448 million in June, Bank of Greece (BoG) figures revealed on Thursday
Alpha Bank posts net profits of 98 mln in Q2
Alpha Bank reported net profits of 98 million euros for the second quarter (Q2) of 2020 compared to a net loss of 11 million euros in Q1 2020.
Budget primary deficit of 7.46 bln confirmed for July as revenues sag
The budget primary balance recorded a deficit of 7.46 billion euros in the first seven months of 2020, compared to a surplus of 1.76 billion noted in July 2019, the final Finance Ministry (MoF) budget execution bulletin for July showed on Thursday.
Retail sector struggles through pandemic
Although it has been several months since the lockdown in Greece ended, the retail sector continues to bear the impact of the coronavirus pandemic.
Grim picture in labour market obliges govt to provide more job support schemes
The government is taking measures to mitigate the impact of the coronavirus pandemic on unemployment, particularly in sectors directly or indirectly connected to the tourism industry.