Greek GDP revised upwards in Q1

14:46 6/6/2014 - Πηγή: Matrix24

The Hellenic Statistical Authority, in a report, attributed this development to better export-import figures in March and rising turnover index in the services setor and employment trends on a quarterly basis. The statistics service also said that domestic consumption returned to positive ground for teh first time, while the rate of decline of private investments

slowed further.

Finance ministry officials told ANA-MPA that an expected boom in tourist arrivals in the country during the summer months was expected to contribute significantly to the Greek GDP.

The country's Gross Domestic Product fell by 0.9 pct in the first quarter, after a 6.0 pct drop in the same period last year and a 7.8 pct plunge in the same period in 2012. Total consumption spending rose 0.8 pct in the January-March period (household consumption rose 0.7 pct after falling by 8.7 pct last year) while the general government's consumption spending grew by 1.2 pct. Gross fixed capital investments fell by 7.9 pct in the first three months of the year, after falling by 11.4 pct in 2013. Exports of goods and services grew 5.4 pct in the first quarter, while imports rose 2.2 pct over the same period.

The country's GDP fell to 41.272 billion euros (current prices), the lowest first quarter figure since 2005.

source: ΑΜΝΑ

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