16122018Headline:

Hellenic Statistical Authority: Greek economy grew by 2.2 pct in the third quarter

The Greek economy grew by 2.2 pct in the third quarter of 2018, extending its growth course for the sixth successive quarter, Hellenic Statistical Authority said on Tuesday.

The statistics service, in a report, attributed the 2.2 pct growth of the country’s Gross Domestic Product (GDP), compared with the same period last year, to a 0.3 pct decline in total final consumption spending (private consumption grew 0.7 pct and general government consumption fell 4.1 pct), a 23.2 pct drop in private investments (gross fixed capital formation), a 7.6 pct increase in exports of goods and services (exports of goods rose 7.9 pct and exports of services rose 8.0 pct) and a 15 pct rise in imports of goods and services (imports of goods rose 15 pct and imports of services rose 16 pct).

On a quarterly basis, GDP rose 1.0 pct, reflecting a 0.2 pct decline in total final consumption spending (private consumption down 0.1 pct and general government consumption rose 2.4 pct), private investments fell by 14.5 pct, exports of goods and services rose by 2.8 pct and imports of goods and services increased 7.5 pct.

Based on non-seasonally adjusted data, Greek GDP grew 2.4 pct in the third quarter compared with the corresponding period last year.

The statistics service said that GDP figures for the previous quarters (first and second quarter of 2018) have been revised.