Greek economy growth slows instead of picking up

Instead of jumping at the prospect of emerging from the bailout program, Greece's annual growth rate slowed in the second quarter of the year, attaining just 1.8 percent against 2.5 percent in the January-March period, provisional Hellenic Statistical Authority figures showed on Monday.

The first-quarter growth rate was revised from 2.3 percent to 2.5 percent and the mean rate of the first half of the year came to 2.1 percent. Given that the annual target is for 2 percent growth, a 1.9 percent expansion in the second half of the year would suffice.

On a quarterly basis the economy expanded by just 0.2 percent in the April-June period, down from 0.9 percent in the first three months of the year.

Gross domestic product remained in positive territory for a second consecutive quarter, both on an annual and a quarterly basis, confirming the economy's exit from its long...