The change in real GDP in 2014’s first quarter was significantly better than the Hellenic Statistical Authority’s ‘flash estimate’, according to a statement released by the Finance Ministry.

Specifically, while the HSA (ELSTAT) initially estimated a decrease of 1.1% compared to the same quarter in 2013, current evidence suggests that the decline was limited to 0.9%.

Therefore, a clear downward trend of recession can be shown year after year ( -6.0% in Q1/2013, -4,0% in Q2/2013, -3.2% in Q3/2013 and -2.3% in Q4/2013), which is observed in all key GDP variables. It is worth noting that private consumption grew, for the first time since the first quarter of 2010, while the signs of investment are encouraging, with reduction limited to single digits at the same time. There is a breakthrough in the increase of services exports and tourism.

Meanwhile, the seasonally adjusted figures depict a stabilization compared to the previous quarter’s figures , confirming the prediction of positive growth during 2014.