Macroeconomy
Trade deficit rises by 70.7 pct in April, mainly due to base effect
Greece’s trade deficit rose by 70.7 percent year-on-year (YoY) in April compared to an increase of 26.6 percent in March, data from the Hellenic Statistical Authority (ELSTAT) released on Monday showed.
GDP rises by 4.4 pct QoQ in Q1 and falls 2.3 pct YoY
Greece’s seasonally adjusted (SA) GDP rose by 4.4 percent quarter-on-quarter (QoQ) in the first quarter (Q1) of 2021 after an upward revised increase of 3.4 percent in the previous quarter, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.
PMI jumps to 58 points in May, strongest upturn in 20 years
Greece’s manufacturing PMI rose to 58 points in May from 54.4 points in April, signalling that the sector is poised for a strong rebound, according to the latest data from Markit.
Deposits rose by 2.96 bln in April; biggest increase in four months
Net deposit movements in the Greek banking system continued to grind higher, increasing by 2.96 billion euros in April, compared with inflows of 1.65 billion euros in March, Bank of Greece (BoG) figures revealed.
Credit growth in April slows to 2.4 pct; monthly outflow of 787 mln
Credit movement in the Greek private sector rose an annual 2.4 percent in April, compared with 2.9 percent in March, Bank of Greece (BoG) figures showed.
OECD ups 2021 growth estimate by nearly 3 points, underlines RRF impact
The OECD released on Monday its latest Economic Outlook, in which it significantly revised its growth estimate for Greece for this year to 3.8 pct, from 0.9 pct in the previous forecast last December.
Retail turnover drops by 3 pct and volume by 0.9 pct in March
Greece’s retail sales index decreased by 3 percent in March following a revised drop of 4 percent in February, Hellenic Statistical Authority data showed on Monday.
Economic sentiment rises to 108.6 pts in May; industry hits 2007 high
Greece’s economic sentiment (ESI) rose sharply in May by 10.7 points to 108.6 points, following a 1 point month-on-month rise in April, European Commission figures showed on Friday.
Unemployment at 15.9 pct in February
Greece’s seasonally adjusted (SA) unemployment rate dropped to 15.9 percent in February from a revised 16.1 percent in January, Hellenic Statistical Authority’s (ELSTAT) data showed on Friday.
Budget primary deficit confirmed at 6.2 bln in April; below target
The budget primary balance recorded a deficit of 6.2 billion euros in the first four month of 2021, compared with a deficit of 1.52 billion in the same period of 2020, the preliminary Finance Ministry (MoF) budget execution bulletin for April showed on Tuesday.