March 14, 2023
According to preliminary data from the Hellenic Statistical Authority, Greece’s economic growth improved in the fourth quarter of 2022 amid a robust recovery in household spending.
In the three months that concluded in December, the gross domestic product increased by a seasonally adjusted 1.4 percent quarterly, outpacing the September quarter’s revised 0.4 percent increase.
Additionally, the annual economic development increased from 4.4 percent in the third quarter to 5.2 percent in the fourth.
Total final consumption increased 1.2 percent in terms of expenditures from the preceding quarter, when it shrank by 0.9 percent. A recovery in family consumption of 1.8 percent was the main driver of the robust rebound.
General government spending was down 0.3% in the meantime. While imports increased by 6.3 percent, exports of products and services fell by 0.8 percent.
GDP grew 4.5 percent year over year in the fourth quarter without any changes, following a 3.9 percent increase in the previous three months.
Source: Hellenic Statistical Authority
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