Macroeconomy
Unemployment stays at 11.2 pct in Apr, youth jobless down by 5 points at 27.4 pct
Greece’s seasonally adjusted (SA) unemployment rate was essentially unchanged in April, landing at 11.2 percent, from an upwards revised 11.1 percent in March, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Manufacturing grows in May, but at slowest pace in last four months
Greece’s Manufacturing PMI remained in expansion territory in May, although it fell marginally to 51.5 points, from 52.4 points in April, according to S&P Global data released on Thursday.
March sees first retail sales fall for two years, volumes show consumption diving
Greece’s retail sales turned negative for the first time since 2021, with a marginal drop of 0.3 percent year-on-year (YoY) in March, from a downward revised rise of 9.8 percent in February, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Credit growth slows to 3.9 pct in Apr, flow negative at 789 mln
The pace of credit movement in the Greek private sector slowed in April, moving up by 3.9 percent year-on-year (YoY), after a rise of 5.2 percent in March, Bank of Greece (BoG) figures released on Tuesday showed.
Private sector deposits almost unchanged in Apr, household savings up by 1.13 bln
The net private sector deposit movement in the Greek banking system was essentially unchanged in April, falling by just 15 million euros, after a rise of 2.32 billion euros in March, based on the latest Bank of Greece (BoG) figures released on Tuesday.
Producer prices record back-to-back decline in Apr as energy falls by 24.4 pct YoY
Greece’s Producer Price Index (PPI) contracted for the second consecutive month in April, falling by 13.3 percent year-on-year (YoY), from a 10.9 percent contraction in March, ELSTAT data showed on Tuesday.
Consumer confidence takes off in May as rest of sectors deliver mixed data
Greece’s economic sentiment (ESI) recorded a minor drop of 0.6 points in May, falling to 108.1 points, after rising by 1.9 points in April, according to European Commission figures released on Tuesday.
Building activity down 15.2 pct in Feb for sharpest drop since 2020
After a solid start for 2023, building permits recorded a contraction of 15.2 percent year-on-year (YoY) in February, after a rise of 22.1 percent in January, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday.
VAT and income taxes drive revenue and budget outperformance in April
The budget primary balance in April was confirmed to be a surplus of 2.44 billion euros, compared to a deficit of 799 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Thursday.
EC reports highlight tight fiscal path and economic challenges
The European Commission published on Wednesday two key reports, one was in the context of the 2023 spring recommendations and the other was the second report of the post-enhanced surveillance period.