Macroeconomy
General gov't primary cash surplus for Jan-May reaches 1.22 bln as arrears drop
The Greek general government (gg) primary cash surplus amounted to 1.22 billion euros in the 5-month period from a deficit of 1.62 billion in the corresponding period last year, according to the gg bulletin released by the Ministry of Finance (MoF).
Loan and deposit rates edge down in May but remain above euro area average
Following a drop by 10 basis points (bps) in April, the interest rate on households’ new time deposits fell further by 18 bps 2.53 percent in May, according to the Bank of Greece (BoG).
Greek PMI falls to 49.4 in June, lowest since November 2013
Greece’s Manufacturing PMI fell by 1.6 points to 49.4 in June from 51.0 in May, according to Markit. This was the lowest reading since November with the headline figure falling back below the 50-point mark that separates growth from contraction.
Retail sales up 3.9 pct in April for first positive YoY reading since 2010
The turnover of Greece’s retail trade index rose 3.9 percent year on year (YoY) in April from a revised -3.8 percent recorded in March, according to the Hellenic Statistical Agency (ELSTAT).
Wages index edges up YoY in Q1 after sinking by 24.8 pct since 2010
The seasonally adjusted Wages Index rose 0.6 percent year on year (YoY) in the first quarter (Q1) of 2014, while it dropped 2.3 percent quarter on quarter (QoQ) over Q4 2013, according to the Hellenic Statistical Authority (ELSTAT).
Greek economic sentiment breaks through 100-point mark for first time since 2008
Greece’s economic sentiment improved by another 4.6 points in June to reach 103.7, May, according to the European Commission (EC).
Unpaid taxes keep rising, tax audits short of targets
Greece’s unpaid taxes rose by 873 million in May at a slightly accelerating pace compared to the 763 million recorded in April, according to data provided by the General Secretariat of Information Systems.
Greek trade deficit rises further in April as exports fall by 20.8 pct
Greece’s trade deficit rose for the third straight month at an accelerating pace of 17.2 percent in April after increasing by 14.7 percent in March, according to the Hellenic Statistical Authority (ELSTAT).
Greece sees travel receipts shoot up by 35.8 pct in April
Greece's April travel receipts increased sharply by 35.8 percent to 411 million euros from 303 million last year, according to the Bank of Greece (BoG).
C/A deficit to April narrows by 34.7 pct boosted by services
Greece's April current account (C/A) deficit slightly rose by 1.3 percent to 1.17 billion from 1.15 billion last year, according to the Bank of Greece (BoG).