Greek GDP shrinks 3 pct in Q3, on course to contract by 4 pct in 2013

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

Greek non-seasonally-adjusted GDP contracted 3 percent in the third quarter of 2013, confirming flash estimates released on November 14, according to provisional data published by the Hellenic Statistical Authority (ELSTAT) on Monday.

The GDP data indicated that the recession reached 4.0 percent in the first nine months of the year. Greece has experienced negative growth since the third quarter of 2008 but the contraction has been slowing for the last year. This year's Q3 was the fou...

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