Statistics authority: Greek GDP up by 1.4% in 2017, lower than target of 1.6%

Monday, 05 March 2018 13:54

Greek GDP grew by 1.4 percent, yoy, in 2017, down by 0.2 percent on an annual basis from the previously stated goal of 1.6 percent, according to Greece independent statistics authority (EL.STAT) on Monday.

The authority also announced that the fourth quarter of 2017 posted a growth rate of 1.9 percent, compared to the same quarter of 2016.

In absolute terms, the country's GDP reached 187.1 billion euros, with a next revision slated for October.

Consumer spending in 2017 dropped by 0.2 percent, on an annual basis, mostly related to slashed public spending, whereas households recorded only a marginal 0.1 percent hike.