Greek Economy Expands in First Quarter as Investment Rises


credit: USACE on Flickr

Greece's economy grew by 0.7% in the first quarter of this year, the country's statistics service announced today, which is a lot better than the government's initial forecast of 0.3%.

The country's return to investment grade status last year also helped, the BBC reports.

Investment increased by 7.1%, while private consumption rose by 0.2%, helped by higher wages and declining inflation.

The country's exports of goods and services, which include tourism revenues, dropped by 2.4% in the first quarter.

Greece has been outperforming its European peers in recent years, the BBC notes, but the government has trimmed its forecast for GDP growth this year to 2.5% as headwinds from the conflict in Ukraine and the Middle East could impact investment and exports. Read the Entire Article


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