Greece Revises Q3 GDP Decline

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Friday, the General Secretariat of the National Statistical Service of Greece said in a final report that the gross domestic product or GDP decreased a seasonally adjusted 1.7% year-on-year in the third quarter, faster than the 1.2% decline in the previous quarter. The GDP in third quarter was revised from 1.6% drop estimated initially. A year earlier, the GDP was up 1.9%.

Sequentially, the GDP dropped 0.4% in the third quarter, after falling 0.1% in the second quarter. The third quarter GDP was revised from 0.3% fall reported initially.

On an unadjusted basis, the GDP drops 1.7% annually in the third quarter, compared to a 1.2% fall in the previous quarter.

Meanwhile, the gross fixed capital formation decreased 18.6% year-on-year in the third quarter, while total final consumption expenditure rose 1.1%. Total gross value added increased 0.1%.

Friday, the General Secretariat of the National Statistical Service of Greece said in a final report that the gross domestic product or GDP decreased a seasonally adjusted 1.7% year-on-year in the third quarter, faster than the 1.2% decline in the previous quarter. The GDP in third quarter was revised from 1.6% drop estimated initially. A year earlier, the GDP was up 1.9%. (Market News Provided by RTTNews)