The budget execution to October showed revenues beating monthly targets by 761 million euros for the fourth straight month. Furthermore, the year to date previous revenue shortfall, which peaked to 1.61 billion euros at the end of June, turned to a small surplus of 51 million at the end of October for the first time so far in 2013.
Greek building activity (measured by the number of building permits) dropped by 10.5 percent in August with the respective surface figure easing 21.1 percent, while volume retreated 31.0 percent, according to the Hellenic Statistical Authority (ELSTAT).
The Industrial Production Index recorded a drop of 1.8 percent in September showing a decelerating trend following a dip exceeding 7 percent in the preceding two months, according to Hellenic Statistical Authority (ELSTAT). September performance led nine-month figure down 3.6 percent compared to a 3.8 percent at the end of August.
The drop in Greece’s Consumer Price Index (CPI) accelerated to 2.0 percent in October compared to a 1.1 percent decline in September, according to the Hellenic Statistical Authority (ELSTAT). On a monthly basis, CPI marginally eased by 0.1 percent, while the average rate of CPI change over the trailing twelve months remains negative at -0.4 percent.
The Greek general government (gg) cash deficit to September fell by 42.3 percent to 5.50 billion with the gg cash primary surplus landing at 3 million from 434 million, the Ministry of Finance (MoF) said on Tuesday.
There has been fresh confusion this week over when the troika will return to Greece to complete its programme review and where the differences between Athens and its lenders lie. Our five questions and answers should help clear up the matter.
Greek Manufacturing PMI slightly eased to 47.3 in October from 47.5 in September, falling further from the 44-month high of 48.7 in August, according to Markit.
Retail sales headed south for yet another month with the contraction rate decelerating to 8.9 percent in August from a revised 14.1 percent in July, according to Hellenic Statistical Authority (ELSTAT).
Portugal’s BCP (Banco Comercial Portugues) launched on October 29 an accelerated placement (to institutional investors only) disposing its entire stake in Greece’s Piraeus Bank.
Greek private sector deposits marginally slipped 0.53 percent month on month (mom) in September with balances reaching 161.35 billion euros. Net flow remained in negative territory for the fourth consecutive month with outflows increasing at 719 million in September from 212 million in August.