Another positive surprise in Q2 data raises upside risks to the official forecast for full-year GDP growt
Provisional Q2 GDP data surprise to the upside Greece’s statistics agency published earlier today provisional national accounts data for the second quarter of the year. The release contained another positive surprise in the form of an upward revision in Q2 real GDP growth to 0.9%/+1.6% QoQ/YoY, from an initial reported estimate of +0.8%/+1.4% QoQ/YoY. A small upward revision was also made to the Q1 figure (real GDP up 0.1%/0.6% QoQ/YoY against an earlier reported 0.0%/+0.5% QoQ/YoY).1 It should be noted that heading into the initial Q2 release (August 18th), market expectations were for a negative GDP growth reading due to tightened domestic liquidity conditions and heightened uncertainty about the outcome of negotiations with official creditors in implementing the agreement reached at the February 20th Eurogroup…
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GREECE MACRO FOCUS August 28, 2015
