According to the official data of the Hellenic Statistical Authority ELSTAT, the economic activity of Greece in the third quarter recorded a year-on-year decrease of 11.7 percent. At the quarterly level, gross domestic product increased by only 2.3 percent.
The third quarter’s performance was the worst among the 27 European Union member-states. The eurozone flash estimates for the third quarter showed a contraction of 4.4% from Q3 in 2019. On a quarterly basis, the July-September period showed a 12.6% rebound. In Greece consumer spending increased in Q3 by 1.6% on an annual basis and by 14% from the second quarter, while exports fell 44.9% year-on-year due to tourism, and investments eased 0.3%.
