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Inflation drives up retail sales by 10.5 pct in Sep, but MoM sees 0.6 pct drop
EconomyMacroeconomyThe growth in Greece’s retail sales dropped pace in September, rising by 10.5 percent year-on-year (YoY), after an upwards revised 15 percent rise in August, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday. The corresponding volume inde...
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Scope Ratings second to give Greece investment grade as attention turns to key players from Sep
EconomyAfter the R&I rating agency of Japan, it was Scope Ratings from Germany on Friday that moved Greece up by one notch to ‘BBB-‘, which is within the investment grade category, with a stable outlook, although both of the agencies are not part of the four a...
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Labour bill controversy dents plans for announcements of new measures in Sep
PoliticsGreek PoliticsThe government is hoping for some respite after several busy and tense weeks since it was re-elected, which would afford it the space to prepare the measures that Prime Minister Kyriakos Mitsotakis will announce at the Thessaloniki International Fair in...
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Weak demand and adverse weather reflected in Sep PMI, barely in expansion territory
EconomyMacroeconomyGreece’s Manufacturing PMI remained in expansion territory in September, although it fell significantly to 50.3 points, from 52.9 points in August, according to S&P Global data released on Monday. This was the eighth straight month during which the cond...
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CPI rise eases to 1.6 pct in Sep, but food up by 9.4 pct
EconomyMacroeconomyThe upward trend in Greece’s Consumer Price Index (CPI) reversed in September with a 1.6-pct rise year-on-year (YoY), after an increase of 2.7 pct in August, according to the data released on Tuesday by the Hellenic Statistical Authority (ELSTAT). The a...
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Tax revenues beat target by 3.16 bln in Sep, as contained spending leads to 6 bln primary surplus
EconomyMacroeconomyThe budget primary balance came to a surplus of 5.98 billion euros in September, compared to a surplus of just 52 million euros in the same period of 2022, according to the preliminary budget execution data released by the Finance Ministry (MoF) on Mond...
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Led by lending to corporations, pace of credit growth rises to 2.1 pct in Sep
EconomyMacroeconomyThe credit expansion in the Greek private sector picked up pace in September, rising by 2.1 percent year-on-year (YoY), from 0.9 percent in August, Bank of Greece (BoG) figures released on Wednesday showed. At 6.3 percent, last December’s growth was the...
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Deposits reach highest since May 2011 with 2.23 bln rise in Sep
EconomyMacroeconomyThe net private sector deposit movement in the Greek banking system was strong in September, with a 2.23-billion-euro inflow, after a marginal movement of 190 million euros in August, based on the latest Bank of Greece (BoG) figures released on Wednesda...
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VAT and income taxes buoy revenue performance as primary surplus target is beaten in Sep
EconomyMacroeconomyThe budget primary balance in September was confirmed at a surplus of almost 6 billion euros, compared to a surplus of 52 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Wednesday....
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Despite annual drop in Sep, producer prices rise for 4 consecutive months
EconomyMacroeconomyGreece’s Producer Price Index (PPI) contracted for the seventh successive month in September, dropping by 4.3 percent year-on-year (YoY), after falling by 8.3 percent in August, ELSTAT data showed on Monday. The index was in negative territory for most ...
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