ECONOMY

In Brief

Manufacturing and retail sales show hefty growth Greece’s retail sales volume rose 9.7 percent year-on-year in April after a 5.9 percent clip in March, data by the National Statistics Service (NSS) showed yesterday. Retail sales by revenues rose 12.3 percent year-on-year in April compared with a 7.7 percent rise in March. Separately, a monthly survey of around 300 companies by NTC Research showed manufacturing growth accelerated to a two-year high in June, driven by strong expansion in output and new orders. June’s seasonally adjusted Purchasing Managers’ Index (PMI) rose to 53.7 from 53.6 in the previous month, the survey showed. The 50 mark separates contraction from growth. (Reuters) Banking ombudsman Three in four written complaints referred to the banking ombudsman by bank clients are settled in their favor, data released yesterday show. The number of written complaints rose 5.5 percent in 2005 to 1,287, but were far outnumbered by those conveyed by telephone, which were up 7 percent to 7,780. Support for Turk lira Turkey’s central bank said it withdrew 600 million lira ($380 million) from the market in two lira deposit purchase auctions yesterday under a policy introduced last week to support the currency. It withdrew 500 million lira in a tender maturing on July 10 at an average rate of 19.89 percent and withdrew 100 million lira from the market at an average rate of 20.41 percent in a tender maturing on July 17. Bids totaled 1.599 billion lira and 772 million lira respectively. The maximum planned amount was 600 million lira. (Reuters)