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Energy propels 11.8% YoY increase in producer prices, as all categories rise
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Building activity eases in May with marginal 0.8% YoY drop
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Economic sentiment moderates further in Aug, as consumer confidence rises
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Credit expansion growth slowed to 6.8% in July due to loans to businesses
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Deposits drop by 2 bln in July, driven by corporations
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Budget continues to perform strongly in July as VAT beats target by over 1 bln
Impact of uncertainty on economy starting to emerge in hard data
The uncertainty of the Ukraine conflict, which is being felt primarily through the energy crisis and the swelling inflation wave, has been reflected for months in sentiment surveys and is now gradually filtering through in hard data, sending the first recessionary signals.
For more than a year, the Greek economy had been recovering from the impact of the Covid pandemic. Most indicators grew continuously since early 2021.
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