KEPE expects Greek Q3’14e GDP to grow by 1.2% y-o-y

The Center for Planning and Economic Research (KEPE), expects Q3’14e GDP to grow by 1.2% y-o-y (Q4’14e +1.8%, FY’14e +0.4%, Q1’15e +1.9%, Q2’15e +2.1%), partly reflecting the ongoing restoration of fiscal discipline, the implementation of a number of key structural reforms and the gradual normalization of the conditions prevailing in the domestic financial sector.

ELSTAT is going to announce Greek Q3’14e GDP flash estimates on 14 November.

Based on the official forecast of GDP growth of 0.6% for 2014e and the -0.7% in the first six months, Greece needs to deliver 1.8% GDP growth in the second half of the year.