Macroeconomy
July trade deficit of 3 bln takes total to 20.67 bln, up by 65.6 pct YoY
The rise in Greece’s trade deficit slowed down in July, but still increased by a sizable 33.3 percent year-on-year, according to data released by ELSTAT on Wednesday.
Quarterly GDP growth slows to 1.2 pct in Q2 as investments shrink and imports rise
Greece’s seasonally adjusted (SA) GDP increased by 1.2 percent quarter-on-quarter (QoQ) in the second quarter (Q2), from an upwards revised 2.9 percent in Q1, provisional data from the Hellenic Statistical Authority (ELSTAT) revealed on Wednesday.
Back-to-back contraction for PMI in Aug reflects tough conditions for manufacturing
Greece’s Manufacturing PMI dropped by just 0.3 points in August to 48.8 points, after a 2-point drop to 49.1 in July, according to S&P Global data released on Thursday.
Seasonality drives retail sales up by 12.1 pct in Jun, but cost-of-living crisis evident in volume data
The growth in Greece’s retail sales picked up pace again in June, rising by 12.1 percent year-on-year (YoY), from a downward revised 4.6 percent rise in May, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.
Despite another annual rise of 35.6 pct in Jul, producer prices fall for third straight month
The pace of Greece’s Producer Price Index (PPI) annual growth slowed down further, still with another solid rise of 35.6 percent year-on-year (YoY) in July, after the 39.9 percent in June, ELSTAT data said on Tuesday.
Subdued start for building activity as permits record back-to-back drop in May
The decline in building permits slowed in May, falling by just 0.4 percent year-on-year (YoY), after a 10 percent decline in April, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Tuesday.
Economic sentiment sees marginal recovery in Aug as most sectors face challenging conditions
Greece’s economic sentiment (ESI) reversed the recent declines, growing by a marginal 0.5 points to 101.5 in August, after declining by 3 points to 101 in July, according to European Commission figures released on Tuesday.
Corporate lending leads credit to 5.5 pct growth in Jul, highest since Sep 2009
Credit movement in the Greek private sector gathered more pace in July, rising by 5.5 percent year-on-year (YoY) from a 4.5 percent rise in June, and 3.3 percent in May, Bank of Greece (BoG) figures released on Friday showed.
Growth in private sector deposits slows to 483 mln in July as corporate deposits drop
The net private sector deposit movement in the Greek banking system in July slowed down to the lowest since April, rising by 483 million euros, from a jump of 2.72 billion euros in June, and 1.31 billion euros in May, based on Bank of Greece (BoG) figures released on Friday.
VAT, income taxes lead budget outperformance as primary balance deficit eases to 1.16 bln in Jul
The budget primary balance for the seven months of 2022 came to a deficit of 1.16 billion euros, compared to a deficit of 9.06 billion euros during the same period last year, according to the final Finance Ministry (MoF) budget execution data released on Thursday.