Greece's GDP rose 2.2 per cent in the first quarter of this year

Greece's economy showed no growth in the first quarter of 2025 compared with the previous quarter, ending an 18-quarter streak of expansion, provisional seasonally adjusted data from the country's statistics agency ELSTAT showed on Friday.

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The stagnation was driven by weak investment and exports during the period, the data indicated.

Gross domestic product remained flat quarter-on-quarter in the January-to-March period of 2025, following a downwardly revised 0.8 percent growth in the fourth quarter of 2024.

On an annual basis, Greece's GDP rose 2.2 per cent in the first quarter, compared with the same period in 2024.

Gross fixed capital formation - a measure of investment in a country’s physical assets - fell 6.1 per cent quarter-on-quarter, while total final consumption expenditure rose 1.2 per cent.

Exports of goods and services, which include revenues from tourism - a key income source for the Mediterranean country-dropped 0.9 percent quarter-on-quarter, driven by a 2.0 per cent drop in services exports and a 0.8 per cent decrease in goods exports.

Imports increased 0.7 per cent, with goods imports edging down 0.03 per cent and services imports rising 2.0 per cent.

Meanwhile Greece’s manufacturing sector continued its expansion in May, driven by a solid rise in new orders and accelerated output growth, despite challenges from weak export demand, a survey from S&P Global showed.

The S&P Global Greece Manufacturing Purchasing Managers' Index (PMI) remained unchanged at 53.2 in May.