Greek Economy Unexpectedly Surged Before Capital Controls
Greek Economy Surprises With 0.8% GDP Surge in 2Q
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Greece’s economy grew in the second quarter in a surprise surge just before the standoff between the government and its creditors forced officials to impose capital controls.
The Hellenic Statistical Authority in Athens said Thursday gross domestic product rose 0.8 percent, and analysts attributed the growth in part to consumer spending and a strong start to the tourist season. Nominal GDP, which excludes adjustments for price changes, fell 0.7 percent in the period through June.