Greek Q1 2026 GDP shows marginal growth amid energy price surge

On 5 June 2026, Greece’s statistical office (ELSTAT) released the national accounts for the first quarter of 2026. Eurobank Research reported that the euro‑area economy expanded by only 0.2 % quarter‑on‑quarter (1.0 % year‑on‑year), while the EU‑27 recorded the same quarterly pace. Greece’s industrial production fell 0.2 % quarter‑on‑quarter, though it rose 3.7 % year‑on‑year; the broader industry index grew 3.0 % quarter‑on‑quarter and 5.2 % year‑on‑year. Retail sales continued a positive trend, up 1.9 % quarter‑on‑quarter and 3.6 % year‑on‑year. Employment slipped by 0.4 % quarter‑on‑quarter, marking the first decline since Q3 2024, while still up 1.2 % year‑on‑year. Export growth in constant prices slowed to 1.5 % year‑on‑year. Analysts linked the modest performance to the recent Gulf war, which drove energy prices higher and heightened inflation risks, eroding household savings and prompting a downward revision of private consumption forecasts for the rest of the year.