Recession in Greece at 15.2% in the second quarter of 2020

Recession in Greece at 15.2% in the second quarter of 2020

Greek economy sees record contraction of 15.2% in the second quarter of 2020, compared to the Ministry of Finance forecast for a 15.7% contraction.

According to the Hellenic Statistical Authority (ELSTAT), compared to the 2nd quarter of 2019, the total consumer expenditure decreased by 10.1%, the gross fixed capital investments decreased by 10.3%, the exports of goods and services decreased by 32.1% and Imports of goods and services fell by 17.2%.

According to the relevant press release, “the data for the 2nd quarter of 2020 reflect the impact of the COVID-19 pandemic on the GDP and the restrictive measures that came into force”.

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