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Market Update: Greek GDP Grows 3.4% in Q2
Greek economy expanded by 3.4 percent on quarter in the three months to June 2021, after an upwardly revised 4.5 percent growth in the previous quarter. Still, it was the fourth consecutive quarter of expansion, as gross fixed capital formation advanced 4.3 percent (vs 3.9 percent in Q1). At the same time, exports rose 2.9 percent (vs 5.8 percent in Q1), while imports grew 5 percent (vs 3.5 percent in Q1). On the other hand, both household consumption (-0.4 percent vs -0.7 percent) and government spending (-0.7 percent vs -3.6 percent) declined. Year-on-year, the economy grew at a record 16.2 percent, rebounding from a 2.3 percent contraction in the previous quarter, amid a low base effect from last year and the ongoing recovery. source: National Statistical Service of Greece [/s2If]
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