Macroeconomy
Another dive for compensation in Q3 drags disposable income, consumption down
Greek household disposable income fell by 2.6 billion euros or 8 percent year on year (yoy) in the third quarter of 2013 and reached 30.4 billion, according to the Hellenic Statistical Authority (ELSTAT).
C/A balance positive by 1.4 bln to Nov, 2013 surplus in sight
Greece's November current account (C/A) balance showed the deficit marginally shrinking to 744 million euros from 753 million last year, according to the Bank of Greece (BoG).
Narrowing of trade deficit slows in November as exports fall 22.5 pct
Greece’s trade deficit narrowed 2.4 percent to 1.54 billion euros in November, while the respective 11-month figure fell 12 percent to 17.86 billion, according to the Hellenic Statistical Authority (ELSTAT).
A closer look at Greece's 2013 budget primary surplus of 603 mln
Greece’s 2013 budget execution showed a primary surplus of 603 million euros from a deficit of 3.46 billion the previous year, according to the final data released by the Ministry of Finance (MoF).
Greek banks' reliance on Eurosystem funding rose in December for first time since April
Greek banks’ Eurosystem funding, the combined liquidity they have received from the European Central Bank (ECB) and the Bank of Greece (BoG) Emergency Liquidity Assistance (ELA) mechanism, rose by 2.92 billion euros in December, according to the BoG’s 2013 annual accounts.
Greece records primary cash deficit in 2013
Greece’s 2013 central government net balance on a cash basis showed the deficit widening by 19.6 percent to 12.79 billion euros from 10.7 billion last year, according to the Bank of Greece (BoG).
Building activity posts first rise in 20 months but overall picture grim
Greek building activity (as measured by the number of building permits) rose by 4.1 percent year-on-year (yoy) in October for the first time since February 2012, according to the Hellenic Statistical Authority (ELSTAT). The respective surface area number recorded a modest 1 percent increase, while volume also rose 5.7 percent.
Greece closes 2013 with 691 mln budget primary surplus despite late investment spend
Greece’s 2013 budget execution showed a primary surplus of 691 million euros (0.4 percent of GDP) from a deficit of 3.46 billion last year, according to the preliminary data released by the Ministry of Finance (MoF) on Tuesday.
Greece saw first annual deflation in almost half a century in 2013
The drop in Greece’s Consumer Price Index (CPI) decelerated to 1.7 percent in December after peaking with a 2.9 percent decline in November, according to the Hellenic Statistical Authority (ELSTAT).
Bank of Greece decision bolsters Greek lenders’ capital ratios
In an unexpected move, the Bank of Greece (BoG) repealed a previous cap on the deferred tax asset (DTA) recognition in Greek banks’ Core Tier 1 (CT1) calculation, resulting in a positive impact on their capital ratios effective in the fourth quarter of 2013.