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European Economic News

Greece Economy Enters Recession In Q4

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

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 calendar-adjusted 0.6 percent from the previous quarter, when it fell 1.4 percent. In the second quarter of 2015, the economy had grown 0.2 percent.

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

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

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