Investment drop stymies growth

Greece's nine-month gross domestic output data hovered around the annual target for a 2.1 percent expansion, but investments remain in negative territory and the economy has been saved by tourism, exports and private consumption. Imports are also growing, threatening the balance of the current accounts.

According to the data issued on Tuesday by the Hellenic Statistical Authority (ELSTAT), GDP increased by 2.2 percent year-on-year in the third quarter, taking the average rate of the January-September period to just over 2.1 percent. For the annual target to be met the economy needs to expand 2 percent in the current quarter.

Nevertheless, investments recorded a massive 23.2 percent decline in the July-September period compared to a year earlier, after an annual decline of 8.8 percent in Q1 and 19.2 percent in Q2, according to revised figures, showing an acceleration in...

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