Greece GDP


Greece: Economic growth slows to one-year low in Q1

May 15, 2015

In the first quarter of 2015, the economy expanded a meagre 0.1% over the same period last year, according to an advance estimate released by the Hellenic Statistical Authority (EL.STAT) on 13 May. Q1’s reading marked a notable deceleration over the 1.2% expansion recorded in Q4 2014 and the smallest increase in one year.

The economy contracted 0.2% in Q1 2015 over the previous quarter in seasonally-adjusted terms, which followed the 0.4% contraction tallied in Q4 2014. The result beat market expectations of a 0.5% decrease. The statistical institute will release more detailed data on 29 May.

FocusEconomics Consensus Forecast panelists see the economy showing 1.9% in 2015, which is down 0.1 percentage points over last month’s forecast. For 2016, the panel expects growth of 2.5%.

Author: Angela Bouzanis, Senior Economist

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Greece GDP Chart

Greece GDP Q1 2015

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

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