Q2 GDP contraction at 0.3 pct, strong Q3 needed to achieve target of annual growth

EconomyMacroeconomy Tags: ELSTAT, GDP
Photo by MacroPolis
Photo by MacroPolis

Greek non-seasonally-adjusted GDP contracted 0.3 percent year on year (YoY) in the second quarter (Q2) of 2014 from -1.1 percent in Q1, according to the provisional data published by the Hellenic Statistical Authority (ELSTAT) today.

The headline figure is 0.1 percentage points worse than the flash estimate of -0.2 percent released on August 13. The quarterly figures also indicate that the recession reached 0.7 percent in the first half (H1) of the year.

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