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Financial News: Greece GDP Growth Eases In Q2

Greece GDP Growth Eases In Q2

09/07/2022 - 07:41:00 (RTTNews)

(RTTNews) - Greece's economic growth slowed in the second quarter, after improving in the previous quarter, preliminary figures from the Hellenic Statistical Authority showed on Wednesday.

Gross domestic product advanced a seasonally adjusted 1.2 percent sequentially, slower than the revised 2.9 percent rise in the first quarter.

The annual economic growth eased to 7.7 percent in the June quarter from 8.0 percent in the March quarter.

On the expenditure side, total final consumption rose 1.2 percent from the previous quarter, while gross fixed capital formation dropped sharply by 7.8 percent.

At the same time, both exports and imports increased by 2.5 percent and 5.8 percent, respectively.

Without adjustments, GDP advanced 7.8 percent year-over-year in the second quarter, following a 9.0 percent expansion seen in the preceding three-month period.

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