Macroeconomy
CPI leaps by 11.3 pct in May as food and energy prices rise
Greece’s Consumer Price Index (CPI) continued its record-breaking rise in May, increasing by 11.3 percent year-on-year (YoY), from 10.2 percent in April, according to the data released on Thursday by the Hellenic Statistical Authority (ELSTAT).
OECD lowers 2022 growth forecast to 2.8 pct as challenges mount
The OECD revised down its growth forecasts for Greece for 2022 amidst surging global inflation, heightened uncertainty, and tighter monetary policy conditions.
Trade deficit widens by 71.6 pct Jan-Apr, reaching total of 11.3 bln
The rise in Greece’s trade deficit accelerated in April, when it increased by 49.5 percent year-on-year (YoY), from 13.5 percent increase in March, according to data released by ELSTAT on Tuesday.
GDP rises by 2.3 pct QoQ in Q1 as consumption grows, but other components shrink
Greece’s seasonally adjusted (SA) GDP increased by 2.3 percent quarter-on-quarter (QoQ) in the first quarter (Q1), from an upwards revised 0.8 percent in Q4, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Tuesday.
PMI drops to lowest in more than a year at 53.8 pts, but manufacturing remains on solid ground
Greece’s Manufacturing PMI dropped by one point in May to 53.8 points, according to S&P Global data released on Wednesday.
Retail sales up by 20.2 pct YoY in Mar, effects of inflation emerge in volume data
The growth in Greece’s retail sales accelerated to 20.2 percent year-on-year (YoY) in March, after an increase of 16.9 percent in February, Hellenic Statistical Authority (ELSTAT) data showed on Tuesday.
Producer prices skyrocket by 48.8 pct in Apr as energy products shoot up by 90 pct
Greece’s Producer Price Index (PPI) recorded another explosive rise in April, shooting up by 48.8 percent year-on-year (YoY), after jumping by 46.2 percent in March, ELSTAT data said on Monday.
Economic sentiment improves to 108 in May, consumer confidence also recovers by 4 pts
Greece’s economic sentiment (ESI) recovered by 2.9 points in May, rising to 108, after dropping sharply by 7.9 points in April, according to European Commission figures released on Monday.
Credit growth at 2.8 pct in Apr, highest in 13 months
Credit movement in the Greek private sector accelerated to 2.8 percent year-on-year (YoY) in April, from 1.6 percent in March, and 1.4 percent in February, Bank of Greece (BoG) figures released on Friday showed.
Deposits grow by 1.35 bln in April, reversing Q1 trend
The net private sector deposit movement in the Greek banking system in April turned positive to 1.35 billion euros, from a negative flow of 989 million euros in March, and negative movement of 258 million seen in February, based on Bank of Greece (BoG) figures released on Friday.