Macroeconomy
General govt primary cash surplus improves to 1.4 bln in Jan, arrears rise to 4.8 bln
Greece’s general government (gg) primary cash surplus rose by 120 million euros to 1.42 billion in January from 1.3 billion a year ago, the Finance Ministry (MoF) gg bulletin showed on Tuesday evening.
Q4 GDP contracts 1.2 pct QoQ, leading to recession of 0.1 pct for 2016
Greece’s seasonally adjusted (SA) GDP dropped by 1.2 percent quarter on quarter (QoQ) in the fourth quarter (Q4) of 2016, after downward revised growth of 0.6 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) provisional estimates revealed on Monday.
Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
During a speech at the Delphi Economic Forum on Saturday, Bank of Greece (BoG) governor Yannis Stournaras presented the outcome of an exercise conducted by the central bank showing that mild debt relief in the form of smoothing interest payment for EFSF loans coupled with a primary surplus of 2 percent of GDP as of 2021 is consistent with Greece’s debt sustainability.
Stable deposit rate in Jan, slight uptick in loan rate
The new time deposit rate for Greek households fell by 1 basis point (bp) for the second straight month and landed at 0.69 percent in January, Bank of Greece (BoG) figures showed on Friday.
Eurosystem funding drops at sharper pace of 3.6 bln in Jan
Greek banks’ Eurosystem funding fell at an accelerating pace of 3.61 billion euros in January after a drop of 1.87 billion in December, the Bank of Greece's (BoG) monthly financial statement showed on Wednesday.
PMI rebounds to 47.7 in Feb but shows deterioration for sixth straight month
Greece’s Manufacturing PMI improved by 1.1 points to 47.7 in February, after falling to a 16-month low of 46.6 in January, Markit’s survey showed on Wednesday.
Credit contraction rises to 1.6 pct in Jan on extended deductions of 885 mln
The rate of credit contraction in the Greek market accelerated to 1.6 percent in January after remaining stable in the previous months, Bank of Greece (BoG) figures showed on Tuesday.
Deposit outflows of 1.5 bln in Jan after seasonally high inflows in Dec
The Greek market recorded outflows of 1.53 billion euros in January after the seasonally high inflows of 2.8 billion in December, Bank of Greece (BoG) figures revealed on Tuesday.
Retail sales down by 1.3 pct in Dec for first drop since Aug
The turnover of Greece’s retail trade index fell by 1.3 percent in December after upward revised growth of 2.2 percent in November, Hellenic Statistical Agency (ELSTAT) data showed on Tuesday.
Economic sentiment and consumer confidence deteriorate in Feb
Greece’s economic sentiment (ESI) fell by 2.2 points in February after remaining stable in the previous month, the European Commission (EC) figures revealed on Monday.