Where is Greece’s Economy Heading? A Spectral Perspective
Growth in Greece came in at 0.5%, ahead of the 0.4% growth in the first quarter 2017, and well up on the 0.2%
expansion that had been forecast prior to the release. The available seasonally adjusted data indicate that in the second quarter
of 2017 the Gross Domestic Product (GDP) in volume terms increased by 0.5% in comparison with the first quarter of 2017,
while in comparison with the second quarter of 2016, it increased by 0.8%,' a release by the Hellenic Statistical Authority said.
This paper attempts to confirm the recent bull trend of Greece’s Economy for the period 2017-2019. For this purpose, we apply
wavelet analysis to Greece’s Real GDP. Real GDP is decomposed in simpler signals called approximations and details in the
framework of the one-dimensional discrete wavelet analysis. The simplified signals are recomposed after Burg extension.
2017-2019 forecasts with wavelet analysis is converging with the forecasts of the European Commission and leading
economists and confirms the recent bull trend of Greece’s Real GDP.
Index Terms - GDP, dynamic economics, wavelet analysis, forecasting.