Eurobank’s weekly economic review points to a worsening of economic expectations as behind the drop in consumer spending in the first trimester of 2016.
Moreover, according to figures by EL.STAT, the Greek statistical service, the annual change in real GDP was -1.35 percent in Q1 2016, which would be the third consecutive negative quarterly performance, after five consecutive increases in the annualized real GDP figure.
In terms of qoq, the same figure dropped by 0.49 percent, as opposed to a marginal 0.06 hike in the fourth quarter of 2015.
