Monday, August 29, 2016

Again slight growth: Greek economy holds up well – NEWS



 Monday, 29 August 2016


 Again announce slight economic growth Greek economists. The gross domestic product grew by 0.2 percent from winter to spring. The outlook should be assessed positively, although private consumption slightly declining.



The Greek economy has been able to avoid slipping into recession. The Gross Domestic Product (GDP) grew from April to June to 0.2 percent the previous quarter, as the national statistics office Elstat announced. The plus was thus somewhat weaker than initially estimated 0.3 percent. In the first three months of the year, economic output was decreased by 0.2 percent. If it drops two consecutive quarters, experts talk of a recession.

For the growth were mainly achieved by increasing investment, while consumer spending a little less, and decreased exports. The data were indeed revised downwards, said Platon Monokroussos, economist at Euro Bank. “But it is promising that GDP registered quarterly growth.” Overall, the economy is in the first half less shrunk than feared. For the full year 2016 decline of economic power by about 0.5 percent or less to be expected, the expert said.

More about

National Bank analyst Nikos Magginas expects a recovery in the second half of the year – “. Unless there is a further decline in private consumption”

Despite the slight growth in comparison with the beginning of the year it runs in the Greek economy is not around. So the sum of goods and services produced in the spring shrank within a year by 0.9 percent. The EU Commission expects for the full year with a decline of 0.3 percent, while it expects an increase of 2.7 percent in 2017. ‘/ P>



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