A bad estimation on GDP by the Hellenic Statistical Authority

Hellenic Statistical Authority (ELSTAT) announced the 2nd estimate of the Annual National Accounts for the year 2014 and revised data for the years 2010-2013.

Specifically GDP recorded an increase of 0.7% compared with the previous estimate of 0.8%.

Also nominal GDP remained negative recording a decrease of 1.6%.

The revision of the Annual National Accounts data was based on the utilization of new and updated information from various sources, such as:

– Incorporation of structural business statistics results for the year 2012

– Incorporation of analytical results from the 2011 population census in the calculation of dwelling services

– Update of estimations for the consumption expenditure of households based on the results of the Household Budget Survey (HBS) for the years 2010-2013 and incorporation of new estimations for the year 2014

– Incorporation of updated external trade data

Additionally, the revision of the Annual National Accounts was carried out on the basis of methodological changes.

Detailed information will be published on the 20th of October 2015.

Proto Thema

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