The Greek government has made a bold growth prediction – this chart shows why it’s a joke
var options = { title: '', legend: {position: 'none'} };
var chart = new google.visualization.LineChart(document.getElementById('greecechart_div')); chart.draw(data, options); }
After passing a budget in the early hours of Sunday morning, one of the Greek government's forecasts is already looking ropey (at best).
The budget estimated 0.6 per cent growth in 2014 – but inflation data released today shows that Greek deflation is at a new record. HICP inflation has dropped by a staggering 2.9 per cent in the year to November.
Greece is an economy where demand is collapsing – not recovering.
A second growth estimate shows that the Greek economy shrunk by three per cent in the third quarter. Greek output has shrunk in every period since the second quarter of 2008.