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Greece 1Q GDP up 0.2%

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Christian Fernsby ▼ | June 4, 2019
Greece’s first quarter Gross Domestic Product expanded, in volume terms, by 0.2% on a quarterly basis, according to the seasonally adjusted provisional data released by the National Statistics Service or ELSTAT.
Greece 1Q GDP expands
European economies   Non-seasonally adjusted data provided a 0.9% expansion
Seasonally-adjusted data showed that the first quarter GDP grew by 1.3% compared to the respective period of 2018, in-line with the economists’ forecast.

Non-seasonally adjusted data provided a 0.9% expansion of the first quarter GDP on an annual basis.

Moreover, ELSTAT slightly revised the fourth quarter GDP data, with the growth rate on an annual basis standing at 1.5% compared to earlier estimates of 1.6%.

ELSTAT data showed that first quarter final consumption dropped by 0.1% bothq-o-q and y-o-y , while gross fixed capital formation increased 8.1% and 7.9% q-o-q and y-o-y respectively.

Exports of goods and services dropped 2.1% q-o-q but rose 4.0% y-o-y. Imports advanced both on a quarterly and annual basis, by 5.0% and 9.5% respectively.