Macroeconomy
Turnover in tourism sector drops at an accelerating pace of 11.7 pct in Q1
The Turnover Index in Accommodation and Food Services fell for the second straight quarter by 11.7 percent in Q1 of 2016 after an upward revised 9.1 percent drop in Q4 2015, Hellenic Statistical Authority (ELSTAT) figures showed on Wednesday.
Trade deficit soars 21 pct in April for highest rise since Dec 2014
Greece’s trade deficit sharply rose by 21 percent in April after a 23.7 percent drop in March, Hellenic Statistical Authority (ELSTAT) figures showed on Tuesday.
General gov't primary cash surplus for Jan-Apr quadrupled to 2.6 bln, arrears stable at 6.7 bln
Greece’s general government (gg) primary cash surplus more than quadrupled to 2.6 billion euros in the 4-month period of 2016 from 581 million in the corresponding period last year, the Finance Ministry (MoF) gg bulletin showed on Monday.
Corporate lending rates resume upward trend in April, time deposit rate stable
Greek households’ new time deposit rate slipped by 1 basis point (bp) to 0.87 percent in April from 0.88 percent in March, Bank of Greece (BoG) data showed on Friday.
Government hopes offer of tax breaks and grants will spark growth boost
The Economy Ministry tabled in Parliament on Thursday evening the long-awaited Economic Development Law that the government hopes will boost productivity and growth.
Access to finance remains far bigger problem for Greek SMEs compared to euro area peers
The latest ECB semi-annual survey on the access to finance of enterprises for the six months ending in March 2016 showed that Greek SMEs continue facing the most notable obstacles in financing among their eurozone peers.
OECD sees economy picking up from second half of 2016, underlines need for reforms
In its latest economic outlook published on Wednesday, the OECD says it expects the Greek economy to recover in the second half of 2016.
PMI drops to 48.4 in May, new orders down at sharpest pace in 8 months
Greece’s Manufacturing PMI fell by 1.3 points to 48.4 in May after rising in the preceding two months, the Markit survey showed on Wednesday.
Credit contraction decelerates to 1.9 pct in April, loan deductions drop to 117 mln
Greek bank credit contraction slowed down for the second straight month to 1.9 percent in April from 2.1 percent in March, Bank of Greece (BoG) figures showed on Tuesday.
Marginal deposit flow in April for second straight month
Greek private sector deposit flow remained minimal for the second straight month with the system recording outflows of just 40 million in April from inflows of 55 million in March, Bank of Greece (BoG) data showed on Tuesday.