GDP grows by 2.3 pct QoQ in Q3 and drops by 11.7 pct YoY as services exports crash

EconomyMacroeconomy Tags: ELSTAT, GDP
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Greece’s seasonally adjusted (SA) GDP showed an increase of 2.3 percent (QoQ) in the third quarter (Q3) of 2020 after a revised decrease of 14.1 percent in Q2 2020, provisional estimates from the Hellenic Statistical Authority (ELSTAT) revealed on Friday.

Compared to Q3 in 2019, GDP shrank by 11.7 percent compared to a YoY contraction of 14.2 percent in Q2 2020. The reading remains among the lowest on record, passing the previous low of -10.2 percent noted in Q4 2011 but showing a slight recovery from th...

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