Macroeconomy
General gov't primary cash surplus climbs to 1.3 bln in Jan, arrears resume upward trend
Greece’s general government (gg) primary cash surplus more than tripled to 1.27 billion euros in January 2016 from 381 million last year, according to the Finance Ministry (MoF) gg bulletin published on Thursday.
Time deposit rate almost flat in Jan, average loan rate falls 12 bps
Greek households’ new time deposit rate remained broadly stable for the second straight month in January, when it eased marginally by 1 basis point (bp) to 1.01 percent in January, Bank of Greece (BoG) figures displayed on Wednesday.
Eurosystem funding down by 1.4 bln in Jan due to lower reliance on ECB funding
Greek banks’ Eurosystem funding fell for the seventh successive month, albeit at a slower pace, in January, when it declined by 1.42 billion following a drop of 5.89 billion in December, the Bank of Greece's (BoG) monthly financial statement displayed on Tuesday.
PMI falls 1.6 pts to 48.4 in February
Greece’s Manufacturing PMI dropped by 1.6 points to 48.4 in February from 50 in January, according to the Markit survey published on Tuesday.
Surprise 0.1 pct QoQ rise in Q4 GDP on investment rebound, 2015 recession at 0.3 pct
Greece’s seasonally adjusted (SA) GDP at constant prices surprised in the fourth quarter (Q4) of 2015 as it edged up by 0.1 percent quarter on quarter (QoQ) compared to a flash estimate of 0.6 percent contraction announced on February 12, Hellenic Statistical Authority (ELSTAT) provisional data showed on Monday.
Retail sales slip 0.1 pct in Dec, drop of 2.8 pct in 2015
The turnover of Greece’s retail trade index eased 0.1 percent in December after a revised drop of 5.4 percent in November, Hellenic Statistical Agency (ELSTAT) data showed on Monday.
Economic sentiment and consumer confidence deteriorate in February
After rising in the preceding two months, Greece’s economic sentiment (ESI) fell by 2.6 points to 89 in February from 91.6 in January, according to European Commission (EC) figures released on Friday.
Budget primary surplus jumps to 1.19 bln in Jan, largely on rising PIB revenues
Confirming preliminary data, Greece’s budget primary surplus improved to 1.19 billion in January from 443 million last year, the Finance Ministry (MoF) final budget bulletin showed on Friday.
Negative deposit flow of 1.12 bln in Jan
After a short-lived positive flow of 2.65 billion in December, the Greek banking system recorded outflows of 1.12 billion in January, Bank of Greece (BoG) data displayed on Thursday.
BoG outlines steps to economic recovery, updates on banks' asset quality
In its annual report released on Thursday, the Bank of Greece (BoG) estimated that the recession will bottom out and expects a slight recovery during the second half of the year subject to political stability and elimination of uncertainty.