Latest KEPE prediction shows 0.3% rate of recession for 2015

The Center of Planning and Economic Research (KEPE) has predicted that the rate of recession at the end of 2015 will be 0.3%…

The Center of Planning and Economic Research (KEPE) has predicted that the rate of recession at the end of 2015 will be 0.3%, in the 28th issue of its quarterly report on the Greek Economic Outlook.

Given that there was a 1% growth rate in the first half of the year, KEPE’s analysts expect the rate of recession to drop to less than 0.3%. This is the most optimistic economic prediction so far. In the latest revised government and institutions estimate, the Greek GDP is expected to shrink by 1.3%.

According to KEPE’s quarterly report though, the average rate of change of the country’s real GDP in the second half of 2015 will be about -1.6% (with the GDP dropping by 1.5% and 1.7% in the third and fourth quarter respectively, compared to the same periods of 2014).

The latest issue of KEPE’s quarterly review is available online in Greek (the English edition has yet to be published).

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