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Greek GDP growth revised upwards to 1.9%

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Staff writer ▼ | December 2, 2014
Greece street market
Q3 2014   Stronger return to development

The Greek economy's GDP growth was revised upwards to 1.9 percent in the third quarter of 2014, according to figures released by Greece's statistical office ELSTAT.

The final official estimate on the growth rate from July to September 2014 showed the ailing economy achieved a return to development which was stronger than initially expected, ending six years of steep recession.

On November 14, ELSTAT announced the preliminary data indicating the economy grew by 1.7 percent year-on-year in the third quarter.

The improved rate supports Athens' expectations that the debt-laden country would achieve a 0.6 percent GDP growth rate for all of 2014 and sets the stage for a remarkable 2.9 percent GDP next year.

ELSTAT's revised estimates were based on improved final data on domestic consumption and exports.


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