Macroeconomy
Inflation slows to 11.6 pct in July as housing and transport costs rise sharply
Greece’s Consumer Price Index (CPI) remained at record high levels in July, rising by 11.6 percent year-on-year, though it did slow down from the 12.1 percent seen in June, according to the data released on Monday by the Hellenic Statistical Authority (ELSTAT).
Trade deficit soars by 71.6 pct in H1, reaching 17.59 bln
The rise in Greece’s trade deficit slowed down in June, but still increased by a sizable 42.7 percent year-on-year, according to data released by ELSTAT on Friday. This came after an 84.7 percent jump in May.
Manufacturing slips into contraction for first time since early 2021 as PMI drops by 2 pts in July
Greece’s Manufacturing PMI dropped by 2 points to 49.1 in July, according to S&P Global data released on Monday.
Producer prices climb by 39.9 pct in June, but record first back-to-back monthly drops since 2020
The pace of Greece’s Producer Price Index (PPI) annual growth slowed down further, still with another explosive rise in June of 39.9 percent year-on-year, after shooting up by 43 percent in May, ELSTAT data said on Friday.
Monthly and volume retail sales data shrink in May, reflecting cost-of-living crisis
The growth in Greece’s retail sales experienced a significant slowdown in May, rising by 5.1 percent year-on-year (YoY) from a solid 18.8 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Building permits turn negative for first time in more than a year, falling by 10 pct in April
The growth in building permits stopped in April, dropping by 10 percent year-on-year (YoY), after it had slowed down in March, rising by 2.8 percent, according to the latest data released by the Hellenic Statistical Agency (ELSAT) on Thursday.
Unemployment rate hovers at 12.5 pct in May, improves by 3 pps on last year
Greece’s seasonally adjusted (SA) unemployment rate stayed unchanged in May, dropping to 12.5 percent, from an upwards revised 12.6 percent in April, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Economic sentiment slides by 3 pts in July to lowest in over a year, construction mood sours
Greece’s economic sentiment (ESI) declined further by 3 points to 101.1 in July, after dropping by 3.7 points in June, according to European Commission figures released on Thursday.
Deposits rise to highest level since end-2011 as corporates grow by 10 pct in June
The net private sector deposit movement in the Greek banking system in June jumped by 2.72 billion euros, from 1.31 billion euros in May, and 1.35 billion euros in April, based on Bank of Greece (BoG) figures released on Wednesday.
Led by lending to corporations, June credit growth of 4.5 pct is highest in a decade
Credit movement in the Greek private sector picked up pace in June, rising by 4.5 percent year-on-year (YoY), from 3.3 percent in May, and 2.8 percent in April, Bank of Greece (BoG) figures released on Wednesday showed.