Europe > Southern Europe > Greece > Greece Economy Enters Recession In Q4

Greece: Greece Economy Enters Recession In Q4

2016/02/15

Greece economy entered in to recession in the three months ended December, preliminary figures from the Hellenic Statistical Authority showed Friday.

Gross domestic product contracted a seasonally and schedule-adjusted 0.6 % from the previous quarter, at the same time as it fell 1.4 %. In the second quarter of 2015, the economy had grown 0.2 %.

On an annual basis, GDP declined an unadjusted 2.0 % in the December quarter, exceeding economists' expectations for a 1.5 % decrease. In the third quarter, the rate of fall was 1.7 %.

Next seasonal adjustments, the economy contracted at a stable pace of 1.9 % in the three-month period to December.

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