Monday March 30, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek economy shrank by 7.2 pct in Q3, pointing to worse than expected recession

Greece’s economy contracted by 7.2 percent of gross domestic product in the third quarter of this year, according to data published by the Hellenic Statistical Authority (ELSTAT) on Wednesday.

“Available non-seasonally-adjusted data indicate that, in the third quarter of 2012, the Gross Domestic Product (GDP) at constant prices of year 2005 decreased by 7.2% in comparison with the third quarter of 2011,” ELSTAT said.

This represents the deepest contraction so far this year, as the economy shrank by 6.7 percent in the first quarter and 6.3 percent in the second, according to revised figures presented by ELSTAT

The figure could yet be revised but puts in doubt the Finance Ministry’s estimate of a 6.5 percent overall contraction of the economy this year.

ELSTAT also revised figures for previous years’ contraction, leading to recession figures for 2010 and 2011 showing an even deeper recession than previously though.

GDP contraction for 2010 was revised to 4.9 percent from 3.5. For 2011, it increased from 6.9 percent to 7.1.

ekathimerini.com , Wednesday November 14, 2012 (12:33)  
Germany says Greece must flesh out reforms to unlock aid
Greek yields edge up as lenders scrutinise reform pledge
Euro hurt by Greek uncertainty, dollar helped by rate outlook
Greece says not backing down on debt relief goal
Athens University calls on ities to remove anarchist protesters
The University of Athens called on the government on Monday to take action to remove anarchists who occupied the institution’s main building in the morning. The group of 20 to 30 protesters ...
Greek president says Turkish vessel must leave for Cyprus talks to resume
On his first official visit abroad since becoming Greek president, Prokopis Pavlopoulos visited Cyprus on Monday, where he backed Cypriot President Nicos Anastasiades’s decision last year to...
Inside News
SOCCER
Three Greek internationals injured in Budapest car crash
Three Greek international soccer players were slightly injured on Monday in a car crash as they travelled by taxi to Budapest airport following Greece's Euro 2016 qualifying goalless draw ag...
SOCCER
Improved Greece draws 0-0 at Hungary
Greece ended up goalless with Hungary in Budapest on Sunday, on manager Sergio Markarian’s debut on the national team’s bench, a result that has left Greece at the bottom of its Euro 2016 qu...
Inside Sports
COMMENTARY
Tsipras needs rupture with far-left, not Brussels
Does Alexis Tsipras, the Greek prime minister, have the guts to break with his far-left faction? The country’s fate hangs on the answer to this question. Greece’s immediate prospects are dic...
COMMENTARY
The Greek brand name
Every country is in competition with the rest of the world for a fundamental edge: its reputation, or brand name. The Greek brand name sank to all-time low in 2010, either because our politi...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Athens University calls on ities to remove anarchist protesters
2. Germany says Greece must flesh out reforms to unlock aid
3. Greek president says Turkish vessel must leave for Cyprus talks to resume
4. Tsipras presses allies for support as Greek cash crunch deepens
5. Three Greek internationals injured in Budapest car crash
6. Subject of many snaps, Sifis the crocodile found dead in Crete
more news
Today
This Week
1. ECB nerves fray on Greece as supervisors rile central bankers
2. Greek markets show all at risk should mistake trigger a default
3. European stock-index futures rise as investors look to Greece
4. Greece says not backing down on debt relief goal
5. Work on tram extension begins in Piraeus
6. Claim of responsibility for Athens police precinct attack
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. PM faces Merkel amid race to detail reforms
4. Moscow expects progress from Tsipras visit
5. Some more equal than others
6. Greece to present reforms by Monday, says gov't spokesman [Update]
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.