Greece 2016 GDP revised to worseStaff Writer | October 18, 2017
Greece’s GDP growth in 2016 was revised to the worse, as it posted a small contraction of 0.2% against earlier forecasts for zero growth, National Statistics Service or ELSTAT said.
Europe National Statistics Service:
ELSTAT said that the revision is mainly due to the incorporation of Household Budget Survey (HBS) results.
The final consumption expenditure, in volume terms, decreased 0.3% y-o-y against an increase of 0.6% that was announced for the first estimate in March.
Also, the imports of goods and services of the year 2016 in volume terms increased by 0.3% y-o-y revised from the earlier estimates of a 0.4% decrease while exports of goods and services decreased by 1.8% y-o-y revised from March’s reading of a 2% drop. ■