How did Greece's GDP just grow 0.8%?

Lies, damned lies and Syriza? Nope, just deflation.

by Rachel Savage

Greece’s battered economy grew 0.8% in the second quarter of this year. That’s more than Blighty. But is it a glimmer of hope emerging over the Aegean or austerity doing funny things to the Greek statistics department?

Probably neither, if we’re honest. Here’s a few possible reasons for the surprise growth

1. Greece’s economy is still yet to recover from a bigger relative contraction than the US during the Great Depression. That means any change comes from a very low base, making even the tiniest levels of growth worth more in relative terms.

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