European Economic News

Greece Economy Expands In Q2

Greece's economy expanded in the three months ended June after contracting in the previous quarter, preliminary figures from the Hellenic Statistical Authority showed Friday.

Gross domestic product rose a seasonally adjusted 0.3 percent from the first quarter, when it fell by 0.1 percent.

In the fourth quarter of 2015, the economy showed a positive growth of 0.2 percent.

On an annual basis, GDP declined at a slower pace of 0.7 percent in the second quarter, following a 0.8 percent fall in the preceding quarter. It was much lower than the 1.8 percent drop expected by economists.

Similarly, the economy contracted an unadjusted 0.1 percent annually in the June quarter, weaker than the 0.8 percent decline in the March quarter. This was the fourth successive quarterly decrease.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

More European Economic News