The Greece economy contracted more than initially estimated in the three months ended March, latest figures from the Hellenic Statistical Authority showed Monday.
Gross domestic product fell a seasonally adjusted 0.5 percent quarterly in the first quarter instead of 0.4 percent fall estimated on May 13.
In the fourth quarter of 2015, the economy expanded slightly by 0.1 percent.
On the expenditure side, final consumption expenditure declined 0.5 percent over the quarter and gross fixed capital formation slid by 6.8 percent.
Both exports and imports of goods and services dropped by 3.3 percent and 0.3 percent, respectively.
On an annual basis, GDP fell 1.4 percent in the March quarter, corrected from a 1.3 percent decrease in the preliminary report, following a 0.9 percent fall in the previous quarter. It was the third consecutive quarterly fall.
Similarly, the economy contracted an unadjusted 1.3 percent annually in the first quarter, faster than the 0.7 percent decline in the prior three-month period.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.