GDP growth of 1.4% in the second quarter

GDP growth of 1.4% in the second quarter

Athens, August 14, 2015/ Independent Balkan News Agency

By Spiros Sideris

GDP growth of 1.4% in the second quarter of 2015 on an annual basis and by 0.8% compared to the first quarter of 2015 announced ELSTAT, noting however that the forecasts are under review.

At the same time it also revised “upwards” the figure for the first quarter of 2015: It now predicts a growth of 0.5% (versus 0.4% of the previous estimate) annually and zero GDP growth on a quarterly basis (compared to recession of 0,2%), owing it to the effect of “general government updated information and updated components of Short-Term Indicators”.

As for the predictions of the second quarter April – June, they are expected to be revised “when the preliminary figures on 28.08.2015 are compiled and announced, based on updated primary data that will have become available then”.

According to the announcement of ELSTAT, the Gross Domestic Product for the second quarter of 2015 (estimates), based on the available seasonally adjusted figures in volume terms, during the second quarter 2015, increased by 0.8% compared to the 1st quarter of 2015, while compared to the second quarter of 2014 it increased by 1.4%.

Based on non-seasonally adjusted data the Gross Domestic Product (GDP) in volume terms during the second quarter 2015, increased by 1.5% compared to Q2 2014.