Greece: Economic growth picks up in the third quarter of 2025
GDP growth gains speed for a second straight quarter in Q3: Greece’s GDP grew 0.6% on a seasonally adjusted quarter-on-quarter basis in Q3, accelerating for a second straight quarter this year, following a downwardly revised 0.4% expansion in the previous quarter. On an annual basis, Greece’s economy expanded 2.0% in seasonally adjusted terms, up from 1.6% in Q2.
Investment and consumption drive growth: Relative to the prior period’s data, Q3 readings improved for government consumption (+0.2% in seasonally adjusted quarter-on-quarter terms vs 0.0% in Q2) and total investment (+4.4% vs -5.3% in Q2), which includes changes in inventories. At the same time, the reading for fixed investment softened (+3.5% vs +8.7% in Q2). Meanwhile, the variation in private consumption was the same as in the prior quarter (+0.7% in Q3 and Q2). On the external front, readings for both exports of goods and services (+0.2% vs +0.7% in Q2) and imports of goods and services (-1.6% vs -1.1% in Q2) softened compared to Q2.
GDP growth to remain above eurozone average: Our Consensus is for GDP growth to remain roughly stable for the fourth consecutive year in 2026, keeping the economy among the fastest-growing in the euro area. Tourism—the pillar of the Greek economy—will likely continue to support employment and household spending, while EU recovery funds should boost growth in fixed investment.