Economy
Trade deficit up 14.2 pct in May as imports increase along with exports
Greece’s trade increased by 14.2 percent in May after falling by 14.3 percent in the previous month, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Unemployment rate falls to 21.7 pct in April, lowest since Jan 2012
Greece’s seasonally adjusted (SA) unemployment declined to 21.7 percent in April from a downwardly revised rate of 22 percent in March, the Hellenic Statistical Authority (ELSTAT) labour force survey revealed on Thursday.
The conundrum of Greek olive oil exports
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A spell of bad weather in olive producing countries means that crops this year are not going to be as productive as previous years. The result is a spike in the price of olive oil.
General govt primary cash surplus at 2.25 bln in May, arrears rise
Greece’s general government (gg) primary cash surplus fell by 332 million euros from the previous year to 2.25 billion in the first five months of 2017 according to the Finance Ministry’s (MoF) gg bulletin.
PMI at 50.5 in June, posting first growth in 10 months
Greece’s Manufacturing PMI rose by 0.9 points in June according to Markit, standing above the 50.0 point no-change threshold for the first time since August 2016.
BoG revises GDP forecast, stresses debt restructuring and reforms in monetary policy report
The Bank of Greece’s (BoG) monetary policy report, submitted to the Parliament last Friday, outlined a downwardly revised 2017 GDP forecast of 1.6 percent from 2.5 percent previously.
Mytilineos bond offering attracts strong investor interest and competitive yield
Greek industrial group Mytilineos Holdings this week successfully launched a bond issue which attracted strong interest. Most notable was an uptake of part of the issue by the European Bank for Reconstruction and Development (EBRD).
April retail sales up by 4.6 pct, volume rises 3 pct
The turnover of Greece’s retail trade index rose by 4.6 percent in April, up from the downwardly revised figure of 0.1 percent in March, Hellenic Statistical Agency (ELSTAT) data showed on Friday
NBG sale of its 75 pct stake in Ethniki Insurance improves capital ratio by more than 100 bps
National Bank of Greece (NBG) announced on Thursday it entered into an agreement with the Dutch EXIN Financial Services Holdings BV for the sale of a 75 percent stake in Ethniki Insurance, NBG’s insurance subsidiary in Greece.
Economic sentiment rises by 0.8 pts in June, consumer confidence improves
Greece’s economic sentiment (ESI) improved slightly by 0.8 points in June after declining by by 1.7 points in May, European Commission (EC) figures showed on Thursday.