Q4 GDP contracts 1.2 pct QoQ, leading to recession of 0.1 pct for 2016

EconomyMacroeconomy Tags: ELSTAT
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Greece’s seasonally adjusted (SA) GDP dropped by 1.2 percent quarter on quarter (QoQ) in the fourth quarter (Q4) of 2016, after downward revised growth of 0.6 percent in the previous quarter, the Hellenic Statistical Authority (ELSTAT) provisional estimates revealed on Monday.

The headline figure is worse than the 0.4 percent contraction posted in the flash estimates released on February 14. It is also the first negative reading since Q1 2016, when GDP contracted by 0.6 percent QoQ, before it started to rebound in the next tw...

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