ECONOMY

Economy grew by 1.3 pct in Q4 of last year

Investment, tourism, consumption and exports contributed to Greece’s 1.3 percent year-on-year economic growth in the last quarter of 2014 according to figures released on Friday by the Hellenic Statistical Authority (ELSTAT).

Despite the small drop on a quarterly basis from the July-September period (46.6 billion euros against 46.8 billion), the economy beat the 0.6 percent growth target, instead achieving an expansion of 0.7 percent to reach 186.2 billion euros last year.

Data showed that investment increased by a remarkable 36.4 percent year-on-year to 5.8 billion euros in the October-December period, while private consumption added an annual 1.4 percent, exports climbed 10.1 percent to 14.1 billion euros, and imports expanded 17.9 percent to 15.9 billion euros.

The trade deficit grew to 1.8 billion euros from 756 million a year earlier.