Macroeconomy
Wages index drops in Q2 to its lowest level since 2001
After growing in the preceding three quarters, the seasonally adjusted (SA) Wages Index fell by 2.1 percent year on year (YoY) in the second quarter (Q2) of 2015, according to the Hellenic Statistical Authority (ELSTAT).
Accommodation and food services index rises by 13.4 pct in Q2
The Turnover Index in Accommodation and Food Services rose by 13.4 percent in the second quarter (Q2) of 2015 at an accelerating pace compared to the Q1 growth rate of 6 percent, according to Hellenic Statistical Authority (ELSTAT).
July trade deficit lands at 715 mln as imports post biggest drop on record
Greece’s trade deficit plummeted by 63.1 percent in July from a drop of 14.1 percent in June, according to the Hellenic Statistical Authority (ELSTAT).
General gov't primary cash surplus markedly better in July but arrears climb
The general government (gg) primary cash surplus narrowed by 18 percent to 2.35 billion euros in the 7-month period of 2015 from 2.87 billion last year, according the gg bulletin published by the Ministry of Finance (MoF) on Monday.
Marked drop of 50 bps in new time deposit rate in July amid capital controls
After remaining broadly stable at around 1.8 percent since last December, Greek households’ new time deposit rate recorded a marked drop by 50 basis points (bps) to 1.31 percent in July, according to the Bank of Greece (BoG).
Lack of new orders and sharp drop in production lead to weak PMI in August
After reaching a record low in July, Greece’s Manufacturing PMI improved by 8.9 points to 39.1 in August, according to Markit.
Retail sales fell by 1.7 percent in June, after a short-lived rise in May
After a short-lived rise by 2.4 percent in May, the turnover of Greece’s retail trade index fell by 1.7 percent in June, according to the Hellenic Statistical Agency (ELSTAT).
Sixth straight fall for economic sentiment in August as it plunges by 6.1 pts
Greece’s economic sentiment (ESI) dived for the sixth straight month in August when it fell by 6.1 points to 75.2 from 81.3 in July, according to the European Commission (EC).
July credit contraction at 1.5 pct, slowest since Aug 2011
Greek bank credit contracted at a decelerating pace for the fourth straight month in July, when it decreased by 1.5 percent from 1.7 percent in June, according to the Bank of Greece (BoG).
Outflows ease to 1.5 bln in July but deposits reach lowest level since May 2003
Greek private sector deposit fell eased to 1.51 billion euros in July from 7.58 billion in June, according to the Bank of Greece (BoG).