Eurobank’s weekly economic bulletin points to a slackening of exports and consumption as leading to a drop in real GDP in Greece in the second quarter of 2016, yoy.
According to the bank’s analysts, who cited the Greek statistical service’s (EL.STAT) seasonally adjusted figures, the annual rate of economic expansion fell by 0.39 percent in the second quarter of 2016, slightly better than the decrease of 0.95 in the first quarter.
Additionally, the Eurobank bulletin emphasizes that the change in real GDP shifted from +0.17 percent to -0.17 percent over the second quarter.
According to the report, a drop in Greek exports over the first half of the year and a commensurate decrease in consumption negatively affected the rate of economic development.
