Macroeconomy
Trade deficit shoots up by 52.8 pct in Oct as imports exceed pre-pandemic levels
Greece’s trade deficit jumped by 52.8 percent year-on-year (YoY) in October, from an increase of 27.8 percent in September and 43.3 percent in August, according to data from the Hellenic Statistical Authority (ELSTAT) released on Wednesday.
Greece takes next steps, including bond swap, to enhance debt profile over coming years
This week started with two developments that intend to further smooth out Greece’s debt obligations in the coming years.
GDP up by 2.7 pct QoQ in Q3, taking growth for first nine months to almost 9 pct
Greece’s seasonally adjusted (SA) GDP increased by 2.7 pct quarter-on-quarter in the third quarter of the year (Q3), from a downwards revised 2.1 pct in the second quarter (Q2) provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Monday.
PMI remains in growth territory in Nov amid supply disruptions and inflation
Greece’s manufacturing PMI stayed broadly stable in November, edging down to 58.8, from 58.9 points in October, Markit data released on Wednesday showed.
Retail sales rise by 13 pct in Sep as fuel has notable impact
Greece’s retail sales picked up pace again in September, rising by 13 percent year-on-year (YoY) from a downward revised increase of 7.5 percent in August, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Employment balance turns negative by 70,048 in Oct as tourism season ends
Greece’s employment balance in October turned negative with 70,048 more departures than hirings, from a positive balance by 19,727 in September, according to data from the Labour Ministry’s Ergani information system.
Economic sentiment back up to pre-pandemic levels, reaching 113.4 pts in Nov
Greece’s economic sentiment (ESI) continued improving in November, rising by 1 point month-on-month (MoM) to 113.4 points, following a 3.7-point rise in October, according to European Commission figures released on Monday.
Credit growth stable at 0.9 pct in Oct, led by lending to corporates
Credit movement in the Greek private sector increased by 0.9 percent year-on-year (YoY) in October, from a revised 0.8 percent in September and 0.8 percent in August, Bank of Greece (BoG) figures released on Friday showed.
Deposits growth slows to just 11 mln in Oct
The net private sector deposit movement in the Greek banking system remained broadly stable in October, rising by just 11 million, from 441 million euros in September and an increase of 1.48 billion euros seen in August.
Budget primary deficit to Oct confirmed at 7.18 bln, improving from 9.07 bln last year
The budget primary balance landed at a deficit of 7.18 billion euros up to October 2021, compared with a deficit of 9.07 billion in the same period last year, the final Finance Ministry (MoF) budget execution data showed on Monday.