Greece's 2Q GDP at 0.5% q-o-q; +0.8% y-o-y;Staff Writer | September 1, 2017
Greece’s second quarter GDP expanded, in volume terms, by 0.5% on a quarterly basis, according to the seasonally adjusted flash estimates released by the National Statistics Service or ELSTAT.
Europe The European Commission expects Greek GDP to expand by 1.7%
Seasonally-adjusted data showed that the second quarter GDP grew by 0.8% compared to the respective period of 2016.
Non-seasonally adjusted data provided a 0.7% expansion of the second quarter GDP on an annual basis.
Also, ELSTAT revised first quarter GDP growth to 0.5% from 0.4% on a q-o-q basis.
“It is noted that GDP for the first quarter of 2017 was revised on account of updated General Government data and Short-Term Indices data,” ELSTAT said.
Recall that the European Commission expects Greek GDP to expand by 1.7% in 2017, while Greece revised down its 2017 GDP growth estimates to 1.8% from 2.7% previously. ■