Global Economic & Market Outlook- Focus Notes (8 December, 2017)
Greek Real GDP +0.3 QoQ% / +1.3 YoY% in 2017Q3
Growth remains on a positive territory for a third quarter in row, however it decelerates relative to 2017Q2
On December 4th 2017, the Hellenic Statistical Authority (ELSTAT) published the quarterly national accounts for the 3rd quarter of 2017. The release of the respective series for 2017Q4 is scheduled for March 5th 2018. Two days later, i.e. March 7th 2018, ELSTAT will announce the 1st estimate of the annual national accounts for 2017. According to European Commission’s Autumn 2017 forecasts, real GDP growth rate in Greece is estimated at 1.6% for 2017 (the rate also envisaged in the 2018 Government Budget) and at 2.5% for 2018 and 2019. The respective estimates of OECD (Economic Outlook, November 2017) are slightly lower – at least for 2017 & 2018 – at 1.4%, 2.3% and 2.0%. Finally, the IMF (World Economic Outlook, October 2017) projects that Greece will achieve growth rates of 1.8%, 2.6% and 1.9% for the years 2017, 2018 and 2019 respectively.
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