Greek building activity (measured by the number of building permits) dropped by 10.5 percent in August with the respective surface figure easing 21.1 percent, while volume retreated 31.0 percent, according to the Hellenic Statistical Authority (ELSTAT).
The Industrial Production Index recorded a drop of 1.8 percent in September showing a decelerating trend following a dip exceeding 7 percent in the preceding two months, according to Hellenic Statistical Authority (ELSTAT). September performance led nine-month figure down 3.6 percent compared to a 3.8 percent at the end of August.
The drop in Greece’s Consumer Price Index (CPI) accelerated to 2.0 percent in October compared to a 1.1 percent decline in September, according to the Hellenic Statistical Authority (ELSTAT). On a monthly basis, CPI marginally eased by 0.1 percent, while the average rate of CPI change over the trailing twelve months remains negative at -0.4 percent.
The Greek general government (gg) cash deficit to September fell by 42.3 percent to 5.50 billion with the gg cash primary surplus landing at 3 million from 434 million, the Ministry of Finance (MoF) said on Tuesday.
Greek private sector deposits marginally slipped 0.53 percent month on month (mom) in September with balances reaching 161.35 billion euros. Net flow remained in negative territory for the fourth consecutive month with outflows increasing at 719 million in September from 212 million in August.
Credit contraction in the Greek market remained unchanged from the previous month at 3.9 percent year on year (yoy) in September with balances reaching 221.0 billion euros, according to the Bank of Greece.
Greek household disposable income fell by 3.1 billion euros or 9.3 percent year on year (yoy) in the second quarter of 2013 and reached 30.1 billion, according to the Hellenic Statistical Authority (ELSTAT). The latest data indicates an accelerating decline compared to the first quarter drop of -7.4 percent.
The Turnover Index in Industry increased 1.7 percent in August, while New Orders Index in Industry also improved by 2.7 percent, according to the Hellenic Statistical Authority (ELSTAT). It is the second straight month both indices have rebounded concurrently, following a 3.7 percent and 1.6 percent respectively rise in July.
The August current account (C/A) balance showed a surplus for the fourth consecutive month at 1.22 billion euros from 1.63 billion last year, according to Bank of Greece (BoG). The recorded drop year on year (yoy) mainly reflects an increase in the income and current transfers’ deficits by 295 million and 249 million respectively more than offsetting a rise in the services’ surplus by 259 million.
The central government net balance to September on a cash basis showed the deficit widening to 8.88 billion euros from 6.53 billion last year, according to the Bank of Greece (BoG). At the same time, the primary cash deficit also expanded to 3.32 billion from 543 million.