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Financial News: Greece Economic Growth Fastest In 3 Quarters

Greece Economic Growth Fastest In 3 Quarters

09/04/2019 - 07:45:00 (RTTNews)

(RTTNews) - Greece's economy expanded at the fastest pace in three quarters during the three months to June, supported by exports and state spending, preliminary figures from the Hellenic Statistical Authority showed on Wednesday.

Gross domestic product rose a seasonally adjusted 0.8 percent from the first quarter, when the economy expanded a revised 0.2 percent.

In the final three months of 2018, the economy shrank 0.1 percent.

The year-on-year growth improved to 1.9 percent in the second quarter from 1.1 percent in the first quarter.

On a non-seasonally adjusted basis, the annual growth rose to 1.9 percent from 0.5 percent.

Exports grew a seasonally adjusted 3.3 percent quarter-on-quarter after a 1.9 percent decline in the first quarter. Imports decreased 0.8 percent after a 5.3 percent increase.

Household expenditure decreased 0.4 percent, after a 0.1 percent gain in the previous three months. General government rebounded with a 4.3 percent growth following a 2.4 percent decline.

Gross fixed capital formation increased 2.4 percent after an 8.5 percent growth in the previous quarter.

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