Greece GDP


Economy grows at fastest pace in over six years

In the third quarter, the economy expanded 1.7% over the same period last year, according to an advance estimate released by the Hellenic Statistical Authority (EL.STAT) on 14 November. Q3’s reading marked the fastest rate of growth since Q1 2008 and represented a notable improvement over the 0.4% increase tallied in Q2. Moreover, Q3’s result came in above the 0.7% expansion that markets had expected.

The economy increased 0.7% over the previous quarter in seasonally-adjusted terms in Q3, which was up from the 0.3% expansion tallied in Q2. The statistical institute will release more detailed data on 5 December.

FocusEconomics Consensus Forecast panelists see the economy showing flat growth in 2014, which is unchanged over last month’s forecast. For 2015, the panel expects growth of 1.9%, which is also unchanged from last month’s Consensus.

Author:, Economist

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Greece GDP Chart

Greece GDP Q3 2014

Note: Year-on-year changes of GDP in %.
Source: Hellenic Statistical Authority (EL.STAT) and FocusEconomics Consensus Forecast.

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