Macroeconomy
General gov't cash surplus widened to 2 bln in January
The Greek general government (gg) cash surplus in January widened by 32.5 percent to 2 billion euros from 1.51 billion last year, according to the gg bulletin released by the Ministry of Finance on Tuesday.
Drop in CPI eased in Feb but Greece still firmly in deflation territory
The drop in Greece’s Consumer Price Index (CPI) slowed further in February to 1.1 percent from 1.5 percent in January, according to the Hellenic Statistical Authority (ELSTAT).
Eurosystem funding for Greek banks eases by 2.18 bln in January
Following a brief rise in December, Greek banks’ Eurosystem funding resumed its downward trend in January easing by 2.18 billion euros, according to the Bank of Greece (BoG) monthly financial statement.
Bank of Greece publishes bank stress test results, which see capital needs at 6.4 bln
The Bank of Greece (BoG) released on Thursday the much anticipated report on Greek banks’ capital needs resulting from a follow-up stress test including the outcome of the new Blackrock loan diagnostic.
Manufacturing PMI edges up for second month in a row
Greece’s Manufacturing PMI improved by 0.1 points for the fourth straight month in February reaching 51.3 points from 51.2 in January, according to Markit.
Greek deposits fell by 1.4 pct in January amid outflows of 2.3 bln
Greek private sector deposits fell 1.4 percent month on month (mom) in January with balances reaching 161.03 billion euros, according to the Bank of Greece (BoG).
Greek credit contracts by 4 pct in Jan, NPLs rise to 31.2 pct in Sept
The year on year (yoy) credit contraction in the Greek market marginally accelerated for the second straight month to 4 percent in January from 3.9 percent in December, with balances reaching 217.61 billion euros, according to the Bank of Greece (BoG).
EC sticks with 0.6 pct growth for Greece in 2014 but also sees C/A deficit
In its winter economic forecasts released on Tuesday, the European Commission (EC) notes that recent data support expectations that Greece should return to growth in 2014. Confidence indicators continue to improve, whilst hard data releases suggest the first signs of recovery.
Greek trade deficit narrowed 11 pct in 2013 but exports marginally negative
Greece’s trade deficit narrowed 2.1 percent to 1.4 billion euros in December, while the respective figure for 2013 fell 11 percent to 19.34 billion, according to the Hellenic Statistical Authority (ELSTAT).
C/A surplus of 0.7 pct of GDP in 2013 is Greece's first for decades
Greece posted a current account (C/A) surplus of 1.24 billion euros (0.7 percent of GDP) in 2013 for first time in decades, following a deficit of 4.62 billion in 2012 (2.4 percent of GDP), according to the Bank of Greece (BoG).