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Deflation hits 0.3% in Q2

Greek Statistical Authority ELSTAT has proceeded to a negative review of data for the recession in the first and second quarter of 2014, after updating and integrating new data on general government performance.

Thus, the initial estimate of a 0.9% decline in the first quarter of 2014 was revised to a 1.1% decline, while the provision for a decline of 0.2% in the second quarter has been now revised to 0.3%.

After the new data, the GDP in the first half of 2014 fell by 0.7% on average.