Macroeconomy
General government primary cash surplus grows to 4 bln by end-July, arrears fall to 6.9 bln
Greece’s general government (gg) primary cash surplus grew by almost 1.7 billion euros to 4.02 billion in the 7-month period of 2016 from 2.33 billion a year ago, the Finance Ministry (MoF) gg bulletin displayed on Wednesday.
Trade deficit expands by record 88.9 pct in July
Greece’s trade deficit soared 88.9 percent in July following a 3.1 percent decline in June, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Gap of 555 mln emerges in three key taxes in July ahead of a crucial September for revenues
Along with the release of unpaid taxes on Monday, the General Secretariat of Public Revenues (GSPR) provided an update on the collection of key taxes, namely personal and corporate income tax and VAT, in July.
New overdue taxes increase by 811 mln in July, total stock at 90.4 bln
Greece’s new unpaid taxes rose by 811 million euros in July 2016, which is a decelerating pace compared to the increase by 1.22 billion euros recorded in the previous month, General Secretariat of Public Revenues (GSPR) data showed on Monday.
Stable rate in time deposits, corporate loan rates pick up in July
Greek households’ new time deposit rate was kept stable at 0.86 percent in July, Bank of Greece (BoG) data showed on Thursday.
PMI picks up to 50.4 in August, new orders grow for first time in two years
Greece’s Manufacturing PMI resumed above the 50-point mark edging up to 50.4 in August after falling to 48.7 in July, Markit survey showed on Thursday.
Retail sales drop for thirteenth straight month by 5.2 pct in June
The turnover of Greece’s retail trade index continued heading south unabated, albeit at a slower pace of 5.2 percent in June from a revised drop of 7.9 percent in May, Hellenic Statistical Agency (ELSTAT) figures showed on Wednesday.
Economic sentiment rises to 92.5 pts in Aug, consumer confidence edges down for second straight month
Greece’s economic sentiment (ESI) increased for the second straight month in August, when it increased by 1.6 points, following a rise by 1.2 points in July, the European Commission (EC) figures showed on Thursday.
Q2 GDP rebounds 0.2 pct QoQ but shrinks 0.9 pct YoY amid consumption drop and investment rise
The Greek seasonally adjusted (SA) GDP at constant prices increased by 0.2 percent quarter on quarter (QoQ) in the second quarter (Q2) of 2016 after a revised drop of 0.2 percent in Q1, the Hellenic Statistical Authority (ELSTAT) provisional estimates displayed on Monday.
Credit contraction slows to 1.6 pct in July, loan deductions jump to 638 mln
Credit contraction in the Greek banking market decelerated to 1.6 percent in July from 2 percent in June, Bank of Greece (BoG) figures showed on Friday.