Economic activity Although European Commission initial forecasts suggested that Greece’s economic activity would be severely affected (-4% in 2015), the final data suggest that recession in 2015 was milder than initially expected, i.e. –0.2% for the whole year.
Figure 3 Average annual GDP growth rates and main components  Due to the carry-over effect from the second half of last year, the Bank of Greece’s estimate for the growth rate in Q1 and Q2 this year is negative, turning to positive in the second half of the year.