Greek economy grew 1.5 pct in the third quarter of 2016, laying the foundations for its return to positive growth rates in 2017. Hellenic Statistical Authority, in a report released on Monday, said the country’s Gross Domestic Product (GDP) grew 1.5 pct in the third quarter compared with the same period in 2015 (GDP was down 2.2 pct in the third quarter of 2015). On a quarterly basis, the country’s GDP grew 0.5 pct in the third quarter from the second quarter.
The statistics service revised upwards its estimate on the GDP in the first two quarters of the year, to -0.8 pct (instead of an -1.0 pct initial estimate in the first quarter and -0.6 pct from -0.9 pct in the second quarter).
Provisional figures for third quarter GDP will be released in November 29, based on updated primary data. Based on non-seasonally adjusted figures, the Greek GDP grew 1.2 pct in the third quarter compared with the same period last year.