Rebound in Greek economy elusive despite Q2 growth

Athens

GREECE'S economy grew modestly in the second quarter but weak demand and scant investment mean a strong rebound after years of recession remains elusive a year after the country nearly crashed out of the euro.

Data released on Monday showed that the 176 billion euro (S$267.6 billion) economy grew by 0.2 per cent in April to June, less than a previous estimate of 0.3 per cent due to weaker consumer spending and net exports. It was the first quarter-on-quarter expansion since late 2015 and followed a 0.2 per cent contraction in Q1.