Greek recession slowed from revised 7 pct in 2012 to 3.9 pct last year

EconomyMacroeconomy Tags: ELSTAT, GDP
Photo by Harry van Versendaal
Photo by Harry van Versendaal

Greek non-seasonally-adjusted GDP contracted 2.3 percent in the fourth quarter of 2013, which was 0.3 percentage points better than the flash estimate released a month ago indicating a 2.6 percent drop, according to provisional data published by the Hellenic Statistical Authority (ELSTAT) on Tuesday.

ELSTAT revised the historical data for the period covering the first quarter of 2005 until the third quarter of 2013. The updated data point to a recession of 3.9 percent in 2013, which is slightly worse than the 3.7 percent indicated in flash estimates...

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