Greek GDP Revised Upwards to +0.4% in Q1

Friday, June 2nd, 2017
Last Update: 15:52

Greece on Friday revised upwards its GDP figures for the first quarter, to an increase of 0.4 pct after a 0.5 pct decline initially recorded.

Hellenic Statistical Authority, in a report, said that based on provisional data, the country’s GDP grew 0.4 pct in the first quarter of 2017 compared with the fourth quarter of 2016, after a 0.1 pct decline announced in May 15.

The statistics service attributed this upward revision of GDP data to the integration of figures not available during the first estimate (monthly such as March balance of payments or quarterly such as turnover in the services sector and workforce survey).

Household consumption grew 17 pct in the first quarter (from a 0.7 pct decline in the same period last year), while general government consumption grew 1.0 pct (down 3.5 pct in 2016). Exports of goods and services rose 4.8 pct (after a 10.4 pct fall in the first quarter of 2016) and imports of goods and services rose 10.9 pct (down 10.1 pct in 2016).

Based on non seasonally-adjusted figures, the Greek GDP grew 0.8 pct in the January-March period this year compared with the same period in 2016, after a 0.3 pct decline earlier announced.(Source: ANA-MPA)

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