Greece bucked the downbeat tone of eurozone GDP reports this morning as it reported a surprise burst of economic growth in the second quarter.
The country reported a 0.3 per cent increase in output in the second quarter, in contrast to expectations of a 0.2 per cent contraction. It also revised up figures for the first three months of the year, from a 0.5 per cent decline to a 0.1 per cent decline.
The economy still shrank 0.1 per cent on an annual basis, but this was a much stronger figure than the 1.8 per cent fall predicted by economists, and the 1.3 per cent decline reported in the first quarter.
Economic expansion is vital in helping to bring down Greece’s debt pile, which is running at 180 per cent of GDP. In May, Greece agreed a wide-ranging deal with creditors (again), and the Bank of Greece had predicted a rebound in activity in the second half of the year as the country receives its latest tranche of bailout cash.
Greece’s economy has shrunk by almost 30 per cent since the start of the financial crisis in 2008, but observers are hopeful recovery is now in sight. Most international organisations expect Greece to return to annual growth next year, though there is little agreement on the pace of any increases.
On a big day for European GDP figures, Germany and Hungary have both beaten forecasts, but disappointing numbers out of Italy, Poland and Portugal have prompted a decline in stocks across the continent.
Chart courtesy of Bloomberg
Friday, August 12, 2016
Source: www.ft.com
Το δημοσίευμα των FT ενοχλεί, αναφέρει η κυβερνητική εκπρόσωπος Όλγα Γεροβασίλη με ανάρτησή της στο twitter απαντώντας στον εκπρόσωπο Τύπου της ΝΔ Γ. Κουμουτσάκο ο οποίος, επίσης με ανάρτηση στο twitter, ανέφερε: Να διανεμηθεί αμέσως από ένα φύλλο των FT σε όσους δεν θα πάρουν ΕΚΑΣ». ΑΠΕ-ΜΠΕ
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