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Greek Economy Growing

Greek Economy GrowingGreek Economy Growing

The Greek economy saw a 1.8% increase in growth according to the latest report released by the Hellenic Statistical Authority on Monday, AMNA reported. The authority attributes the continuous growth trajectory experienced by Greece mainly to exports and consumption. It also revised upwards its estimate for the first quarter of 2018 (annual GDP growth of 2.5% from 2.3%) and said that GDP grew 0.2% in the second quarter from the first quarter of 2018. Total consumption spending grew 0.8% in the second quarter compared with the same period last year (after a zero change in the first quarter), with household consumption up 1% (zero change in the first quarter) and general government consumption down 2% (up 0.1% in the first quarter). Private investments (gross fixed capital investments) fell 5.4% (down 10.3% in the first quarter). Exports of goods and services rose 9.4% (up 8% in the previous quarter). Exports of goods rose 7.2% and exports of services rose 12.2%. Imports of goods and services rose 4.3% (down 3.1% in the first quarter).

 

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