High-profile boasts of a “Greek comeback”, uttered this week, were apparently proved premature, as the country’s statistics authority on Tuesday said GDP in 2016 fell, albeit marginally.
The now independent authority, EL.STAT, revised its previous March 2017 forecast for the worse, announcing that Greek GDP fell by 0.2 percent, yoy, in 2016.
The previous forecast was for a zero change in GDP, between 2015 and 2016.
Another negative result was a 0.3-percent drop in consumer spending for 2016, as opposed to an initial projection of an increase of 0.6 percent.
Imports of goods increased by 0.3 percent, compared to 2015, up from a forecasted decrease of 0.4 percent, released in March 2017.
Conversely, exports fell by 1.8 percent.
