Economy
Retail sales grow by 3.1 pct in Jul, as food sales continue to contract
Greece’s retail sales returned to positive territory in July, with a rise of 3.1 percent year-on-year (YoY), after a drop of 1.3 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
PBO draws attention to effects of climate crisis on public finances
The Parliamentary Budget Office (PBO) has published its quarterly report, in which it confirmed that - based on data for the first half of 2023 - the Greek economy is on course to reach its growth outlook, although natural disasters over the recent months have clouded the growth and fiscal outlook.
Consumer confidence takes 10-point dive in September
Greece’s economic sentiment (ESI) recorded a drop of almost 3 points in September to 108 points, after a 0.7-point increase in August, according to European Commission figures released on Thursday.
Building activity continues to grow, rising by 13 pct YoY in Jun
Building permits recorded solid growth in June, rising by 13 percent year-on-year (YoY), after a rise of 15.8 percent in May, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Thursday.
Mixed picture for deposits continues in Aug with rise of just 190 mln
The net private sector deposit movement in the Greek banking system was marginally positive in August with a 190-million-euro inflow, after dropping by 136 million euros in July, based on the latest Bank of Greece (BoG) figures released on Wednesday.
Credit net flows remain negative in Aug, growth at just 0.9 pct YoY
The pace of credit expansion in the Greek private sector continued to slide in August, rising by 0.9 percent year-on-year (YoY), from 1.2 percent in July, Bank of Greece (BoG) figures released on Wednesday showed.
Budget overperformance in Aug fuelled by VAT and income tax, spending significantly contained
The budget primary balance in August was confirmed at a surplus of 5.6 billion euros, compared to a surplus of 19 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Monday.
Travel balance to July soars by 19 pct, reaching almost 9 bln
Greece’s travel balance recorded a surplus of 3.88 billion euros in July, from 2.73 billion euros in June, according to Bank of Greece (BoG) data released on Thursday.
Agriculture output prices jump 28.7 pct YoY in Jul, despite input costs falling
The output index in agriculture recorded an increase of 28.7 percent year-on-year (YoY) in July, from 30.6 percent in the previous month, ELSTAT data showed last week, underlining the challenge households are facing with respect to food prices.
Positive sentiment around banks continues to grow
This year’s positive story around Greek banks is gaining momentum as systemic lenders appear to be leaving behind them the troubled era of the debt crisis and the sector is recording solid profitability hinged on the ECB’s tightening of monetary policy.