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GreekReporter.comGreek NewsEconomyELSTAT: Greek Statistics Show Deepening Recession in First Half of 2016

ELSTAT: Greek Statistics Show Deepening Recession in First Half of 2016

ftoxosThe Hellenic Statistical Authority (ELSTAT) announced the GDP for the 2nd quarter for 2016. Seasonally adjusted data showed that GDP in the second quarter increased by 0.2 percent compared to the first quarter against an increase of 0.3 percent that was announced for the flash estimate of the second quarter on August 12. It decreased by 0.9 percent — compared to the 2nd quarter of the previous year — against the decrease of 0.7 percent for the flash estimate announced on August 12.
The GDP in volume terms decreased by 0.4 percent in comparison with the previous year according to available non-seasonally adjusted data indicated that in the 2nd quarter of 2016. Flash estimates of the second quarter had announced a decrease of 0.1 percent. Differences are on account of new data not available at the time of the flash estimate.
Other information showed the following:
♦ Exports for goods subsided by 0.6 percent, whereas services exported dropped by 3.5 percent.
♦ A 0.4 percent drop was noted in the import of goods and services in relation to the first quarter of 2016.
♦ The total amount of consumer expenditure dropped by 1.9 percent compared to the first quarter of 2015.

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