Macroeconomy
Accommodation and food services index up 7.6 pct in Q3
The Turnover Index in Accommodation and Food Services grew by 7.6 percent in the third quarter (Q3) of 2014, following a rise of 6.7 percent in Q2, according to the Hellenic Statistical Authority (ELSTAT).
General gov't primary cash surplus rises to 3.4 bln in Oct but arrears also growing
The Greek general government (gg) primary cash surplus climbed to 3.46 billion euros in the 10-month period of 2014, 2.4 times higher than the 1.43 billion posted last year, according the gg bulletin published by the Ministry of Finance (MoF) on Thursday.
Greek loan rates remained well above euro area average in October
The interest rate on households’ new time deposits was further reduced by 14 basis points (bps) to 1.94 percent in October, according to the Bank of Greece (BoG). This was the first reading below the 2-percent mark since Greece’s accession in the eurozone in 2002.
Small rise for Greek manufacturing PMI in November
Greece’s Manufacturing PMI improved for the second straight month in November, rising by 0.3 points to 49.1 from 48.8 in October, according to Markit.
Greek deposits down 0.2 pct in October after seven months of rises
Following a rise in the preceding seven months, Greek private sector deposits fell by 0.2 percent month on month (MoM) in October. Balances reached 164.5 billion euros, according to the Bank of Greece (BoG).
Greek GDP up 0.7 pct in Q3 for third straight quarter of growth
The Greek non-seasonally adjusted (NSA) GDP at constant prices posted a growth of 1.9 percent year on year (YoY) in Q3, higher than the flash estimate of 1.7 percent, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) on Friday.
Credit down by 3.2 pct in Oct for lowest contraction since Dec 2011
The rate of credit contraction in Greece decelerated to 3.2 percent in October from 3.5 percent in September, according to the Bank of Greece (BoG). This was the lowest negative reading since December 2011.
Greek retail index down 0.9 pct in Sept. although volume increases
After increasing in the preceding three months, the turnover of Greece’s retail trade index fell by 0.9 percent in September following a downward revised 4.4 percent rise in August, according to the Hellenic Statistical Agency (ELSTAT).
Greek economic sentiment and consumer confidence up again in November
Greece’s economic sentiment rose for the second consecutive month in November, increasing to 102.7 from 102.2 in October, according to the European Commission (EC).
Greek trade deficit widens 34.2 pct in Sept as exports slip for third month
Greece’s trade deficit widened by 34.2 percent in September after a drop of 29.5 percent in August, according to the Hellenic Statistical Authority (ELSTAT).