Greece: Economy grows at fastest pace in over six years
November 17, 2014
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.
Author: Cecilia Simkievich, Economist