Greece’s economy expanded 0.6% in the second quarter from the first, reflecting a rebound in investment that offset a slight dip in total consumption, according to provisional data released by the country’s statistics agency on Friday.
First quarter growth was upwardly revised to 0.1%.
Final consumption expenditure edged down 0.1% in the second quarter, with household spending slipping 0.2%, while government consumption rose 2.4%, the seasonally-adjust data showed.
Investment strengthened as gross fixed capital formation, which measures investment in long-term assets such as buildings and infrastructure, jumped 7.4%, although overall gross capital formation declined 4.9% as inventories fell.
External demand improved during the quarter, as exports of goods and services, which include revenues from tourism – a key income source for the Mediterranean country – rose 1.3%, with goods nearly flat at -0.03% and services climbing 2.6%.
Imports fell 0.9%, with goods imports down 0.8% and services imports falling 2.0%.