Greek GDP NOWcasting model update | Eurobank
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Greek GDP NOWcasting model update

This note presents a preliminary estimate of Greek GDP for the second quarter of this year, based on a range of monthly data released up to June 30, 2014. Our Nowcasting model produces high frequency, real-time estimates of Greece’s gross domestic product by applying an econometric methodology that can properly handle data reporting lags, revisions and other important aspects characterizing the daily flow of macroeconomic information. Our mid-point estimate points to a further slowdown in the pace of annual GDP contraction in the second quarter of 2014 to around -0.3% , from -0.9%YoY in Q1 2014 and -2.3%YoY in the final quarter of last year.