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Q3 2017 Greek GDP growth falls below forecast

GDP growth in still bailout-dependent Greece reached 1.3 percent in the third quarter of 2017, compared to the same quarter of 2016, a development which showed a continued recovery, but at a rate lower than what the government has forecast.

The target for 2017, on an annual basis, is growth of 1.6 percent of GPD. Based on results over the first two quarters, Q4 2017 will have to post growth rates – on a quarter-to-quarter basis – exceeding 3 percent.

The less than forecast growth is primarily due to lower private consumption and a negative trend in terms of investments, according to the independent statistics authority (EL.STAT) in the country. The former figure, in fact, fell during the third quarter, compared with the same period in 2016, by 1 percent.