Macroeconomy
Greek Q2 growth of 0.8 pct confounds recession forecasts
Greece’s seasonally adjusted (SA) GDP at constant prices rose quarter on quarter (QoQ) by 0.8 percent in Q2 2015 following a upward revised 0.02 percent growth recorded in Q1, according to the flash estimates published by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Record revenue shortfall of 2.83 bln in July shrinks primary surplus outperformance
Greece’s budget primary surplus significantly widened to 3.53 billion euros in the 7-month period of 2015 from 1.88 billion in the first half, according to the Finance Ministry (MoF) preliminary budget bulletin published on Thursday.
Greek government commits to new fiscal measures for third bailout
Apart from measures to safeguard financial stability, the draft bill for the third bailout tabled in Parliament on Wednesday included also the measures for restoring fiscal health.
Building activity up again in May but with smaller rise of 1.9 pct
Greek building permits grew for the fourth successive month in May, albeit by a modest 1.9 percent from 6.2 percent in April, according to the Hellenic Statistical Authority (ELSTAT).
ELA funding down by 1.48 bln in July for first monthly drop since May 2014
Greek banks’ Eurosystem funding fell by 1.29 billion euros in July after rising by 10.17 billion in June, according to the Bank of Greece's (BoG) monthly financial statement published on Monday.
Capital controls take toll on car sales, which fell 23.9 pct in July for first time in two years
The number of road motor vehicles going into circulation for the first time fell by 23.9 percent in July after rising by 21.7 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
Industrial production down by 4.5 pct in June for third monthly drop this year
The Greek Industrial Production Index (IPI) fell for the second straight month in June, when it was down by 4.5 percent from 4.3 percent in May, according to the Hellenic Statistical Authority (ELSTAT).
Trade deficit shrinks by 14.1 pct in June as fall in imports outpaces export decline
Greece’s trade deficit fell for the second successive month in June, when it declined by 14.1 percent from 24.2 percent in May, according to the Hellenic Statistical Authority (ELSTAT).
CPI falls by another 2.2 pct in July as VAT rises yet to be recorded
The rate of drop in the Greek consumer price index (CPI) remained at 2.2 percent for the second straight month in July, according to the Hellenic Statistical Authority (ELSTAT).
General gov't primary cash surplus shrinks in first half of 2015 as state arrears grow
The general government (gg) primary cash surplus contracted by more than 1.6 billion euros to 238 million in the first half of 2015 from 1.85 billion last year, according the gg bulletin published by the Ministry of Finance (MoF) on Thursday.