Macroeconomy
Stournaras eyes easing of capital controls, updates on loan quality and NPL reduction targets
Appearing before Parliament’s economic affairs committee on Monday Bank of Greece (BoG) Governor Yannis Stournaras presented the organisation’s monetary policy report, which was released a month ago, and provided an update on Greek banks’ loan quality as well as unveiling a series of proposals for easing capital controls
Building activity decreases at slower pace of 5.3 pct in April
Greek building permits fell by 5.3 percent in April after an 11.5 percent drop in March, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Industrial production up again in May with 2.9 pct increase
Greece’s industrial production continued its rebound in May, posting an increase of 2.9 percent compared to a sharp drop of 4.3 percent in May 2015, ELSTAT data showed on Monday.
Trade deficit climbs for second straight month in May, rising by 12.5 pct
Greece’s trade deficit continued heading north for the second straight month, albeit at a slower pace, increasing by 12.5 percent in May after a 21 percent rise in April, Hellenic Statistical Authority (ELSTAT) figures showed on Friday.
Car sales fall 2.5 pct in June after impressive growth in preceding two months
The number of road motor vehicles (going into circulation for the first time) fell by 2.5 percent in June after an impressive growth of 33 and 24.5 percent respectively in the preceding two months, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Drop in CPI slowed to 0.7 pct in June
Τhe Greek Consumer Price Index (CPI) fell by 0.7 percent in June after a 0.9 percent drop in May, Hellenic Statistical Authority (ELSTAT) data displayed on Friday.
Unemployment rate falls again, reaching 23.3 pct in April - lowest since March 2012
Greece’s seasonally adjusted (SA) unemployment rate fell for the third straight month in April, when it declined to 23.3 percent from a downward revised 23.7 percent in March, Hellenic Statistical Authority (ELSTAT) labour force survey showed on Thursday.
General government primary cash surplus widens to 2.5 bln by May, arrears resume upward trend
Greece’s general government (gg) primary cash surplus substantially widened by almost 5.5 times to 2.53 billion euros in the 5-month period of 2016 from 463 million a year ago, the Finance Ministry (MoF) gg bulletin displayed on Thursday.
Minor changes in Greek deposit and lending interest rates in May
Greek households’ new time deposit rate slightly eased for the fifth straight month in May, when they fell by by 2 basis points (bps) to 0.85 percent from 0.87 percent in April, Bank of Greece (BoG) data displayed on Tuesday.
PMI improves by 2 pts in June to rise above 50-pt mark on higher production, employment
Greece’s Manufacturing PMI rose by 2 points to 50.4 in June from 48.4 in May, Markit’s monthly survey showed on Friday.