The Greek economy performs above market expectations in Q3 2016 (+0.5%/+1.5% QoQ/YoY)
- The Greek economy performed better than expected in Q3 2016. According to the Hellenic Statistical Authority (EL.STAT.) flash estimates, real GDP growth stood at +0.5%/+1.5% QoQ/YoY in Q3 2016 (seasonally adjusted data) from an upward revised +0.3%/‐0.6% QoQ/YoY in Q2 2016. The respective provisional data are scheduled to be published on November 29th 2016.
- The quarterly real GDP growth rate in Q3 2016 is relatively close to our forecasts published in “Greece Macro Monitor” on November 8th 2016 (+0.2% QoQ, MIDAS/Greek Nowcasting model)
- Given Greece’s aggregate economic performance during the first 9 months of 2016, we expect a full year real GDP growth rate between ‐0.3% to 0.0% (EC’s Autumn forecast: ‐0.3%, IMF’s WEO October 2016 forecast: +0.1%).
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