August 13, 2012
El Stat: Contraction of 6.2% in 2nd Quarter
The good news was that the cash deficit was only half of what was expected for this time period.
INFLATION IN GREECE - ELSTAT INFO
GDP contraction of 6.2%
| Consumer Price Index (CPI) | Jul. 12/Jul. 11 | 1.3 |
| Harmonized Index of Consumer Prices (HICP) | Jul. 12/Jul. 11 | 0.9 |
| Gross Domestic Product (Flash estimates) | Q2 2012 | -6.2 |
| Unemployment rate | Q1 2012 | 22.6 |
| Industrial Production index (excluding construction) | June 12/June 11 | 0.3 |
| Turnover Index in Retail Trade | May. 12/May. 11 | -8.8 |
| Producer Price Index in Industry | Jun. 12/Jun. 11 | 2.9 |
| Building Activity (volume) | May. 12/May. 11 | -7.4% |
And the future?
"We project GDP to contract by 7.1 percent in 2012 and by 2.4 percent in 2013, on the back of further significant declines in disposable incomes, rising unemployment and plummeting investment activity."
Eurobank economist Theodore Stamatiou said at Reuters.
Related:
2011 – Creating the European Financial Stability Facility (EFSF) & the "PIIGS"
2017 – Another Greek Economic Crisis?
The Drachma almost returned to Greece 2013–2017
Greek economic Survival in the 1990s
Greece's Golden Visa program
