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Deposit rise of 1.3 bln in May led by corporates as household savings drop
EconomyMacroeconomyThe net private sector deposit movement in the Greek banking system in May stayed positive at 1.31 billion euros, from 1.35 billion euros in April, and negative movement of 989 million seen in March... back-to-back negative flows since the same period in 2019. The annual growth in May was up to 6.3
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PM targets elections in May as polls show outcome is finely balanced
PoliticsGreek Politics, the first of potentially two votes, will be held before the end of May. There had been intense speculation that Mitsotakis would opt for May 21, but some rumours suggested that he might want to wait
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Parties focus May Day messages on contrasting employment claims
PoliticsGreek PoliticsCampaign rallies taking place on May Day gave the main contenders in Greece’s upcoming parliamentary elections an opportunity to highlight their employment policies, with each claiming to have done... by Development Minister Adonis Georgiadis. Speaking at a May Day concert organised by the SYRIZA youth wing
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Producer Price Index contracts for third consecutive month, down 12.9 pct in May
EconomyMacroeconomyGreece’s Producer Price Index (PPI) contracted for the third consecutive month in May, falling by 12.9 percent year-on-year (YoY), from a 13.3 percent contraction in April, ELSTAT data showed... taken the index from 99.36 points in January 2021, to 131.35 points in May. Month-on-month (MoM
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Manufacturing remains in expansion in May amid client demand concerns
EconomyMacroeconomyGreece’s Manufacturing PMI remained in expansion territory in June, although it stayed virtually unchanged at 51.8 points, from 51.5 points in May, according to S&P Global data released on Monday..., with pace quickened from May due to demand from domestic and foreign customers. S&P notes that new
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Import prices fall sharply in May as energy drops by 40.5 pct
EconomyMacroeconomyThe contraction of Greece’s import price index picked up further pace in May, as it fell by 20.8 percent year-on-year (YoY), after dropping by 17.5 percent in April, according to data released... percent in the previous period. In May, there was a 29.2 percent decrease from the non-eurozone
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Inflation boosts food sales by 12 pct in May, supermarkets up by 14.3 pct
EconomyMacroeconomyGreece’s retail sales stayed positive in May, after the first negative reading in March since 2021, with a rise of 7.2 percent, year-on-year (YoY), from 1.7 percent rise in April, Hellenic... movement was up by 0.2 percent. Compared to May 2022, automotive fuel was down by 5.7 percent, non-food
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Credit expansion reaches just 66 mln of inflows in May
EconomyMacroeconomyThe credit expansion in the Greek private sector was little changed in May, rising by 4.8 percent year-on-year (YoY), from 4.5 percent in the previous month, Bank of Greece (BoG) figures released... to 4.47 billion. Housing loans had a negative flow of 53 million in May, from a negative flow of 85
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Lending to corporations drives credit growth of 11.3 pct YoY in May
EconomyMacroeconomyThe credit expansion in the Greek private sector remained strong in May, rising by 11.3 percent year-on-year (YoY), from 10.9 percent in the previous month, Bank of Greece (BoG) figures released... loans had an inflow of 26 million in May, from outflow of 23 million in April and the balance
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Energy at forefront of 2 pct decline for industrial production in May
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) continued its drop in May with 2 percent year-on-year (YoY), after a sharp fall of 4.2 percent in the previous month, according to Hellenic Statistical... mid-2023. Month-on-month (MoM), the seasonally adjusted index in May recorded a drop of 0.4 percent
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