Macroeconomy
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.
Unemployment rate fell to 25 pct in May, its lowest level in the last three years
Greece’s seasonally adjusted (SA) unemployment rate fell for the second straight month in May, when it dropped to 25 percent in May from 25.6 percent in April, according to the Hellenic Statistical Agency (ELSTAT).
Rate of drop in apartment prices picks up again in Q2
After decelerating in the preceding seven quarters, the drop in Greek apartment prices accelerated to 5.6 percent in the second quarter (Q2) of 2015 from a revised 4.1 percent in Q1, according to the Bank of Greece (BoG).
Manufacturing PMI falls to record low in July, new business sees biggest drop
Greece’s Manufacturing PMI tumbled to 30.2 in July from 46.9 in June recording its lowest ever reading, according to Markit.
Rare rebound for retail trade with 2.5 pct rise in May
The turnover of Greece’s retail trade index rose by 2.5 percent in May following a 3.1 percent drop in April, according to the Hellenic Statistical Agency (ELSTAT).
Drop in corporate loan rates led the average loan rate at a new historic low
Greek households’ new time deposit rate remained at 1.81 percent in June unchanged from the previous month, according to the Bank of Greece (BoG).
Economic sentiment fell to 81.3 in July for the sharpest historical monthly drop
Greece’s economic sentiment (ESI) dropped for the fifth successive month at a marked accelerating pace by 9.4 points to 81.3 in July from 90.7 in June, according to the European Commission (EC).
Parliament's budget office rings alarm bell on economic prospects
The Greek economy deteriorated in the first half of 2015 and the country has entered again into a recessionary trajectory, according to the quarterly report of the Parliamentary Budget Office (PBO).
Credit contracts at slower pace of 1.7 pct in June, monthly loan flow positive
Greek bank credit contracted at a decelerating pace for the third successive month by 1.7 percent in June from 2.1 percent in May, according to the Bank of Greece (BoG). The June headline rate indicates the slowest decline since August 2011.
June deposit outflow rises to 7.58 bln as total balance drops to lowest in 12 years
Greek private sector deposit outflows accelerated to 7.58 billion euros in June from 3.86 billion in May, according to the Bank of Greece (BoG).