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Financial News: Greece Economy Expands At Steady Pace In Q2

Greece Economy Expands At Steady Pace In Q2

09/01/2017 - 06:31:00 (RTTNews)

(RTTNews) - Greece's economy expanded for the second straight quarter in the three months ended June, flash data from the Hellenic Statistical Authority showed Friday.

Gross domestic product advanced 0.5 percent sequentially in the June quarter, the same rate of increase as in the first quarter, which was revised up from a 0.4 percent growth reported earlier.

On the expenditure side, final consumption expenditure climbed 0.4 percent compared with the previous quarter, while gross fixed capital formation fell by 4.5 percent.

Exports of goods and services registered a growth of 3.8 percent. In contrast, imports slid by 3.7 percent.

On a yearly basis, GDP grew at a faster rate of 0.8 percent in the second quarter, following a 0.4 percent expansion in the March quarter.

The non-seasonally adjusted data showed that GDP rose 0.7 percent yearly in the second quarter after a 0.6 percent rise in the preceding quarter.

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