Friday November 28, 2014 Search
Weather | Athens
16o C
10o 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)  
Who will pay for the state’s ADMIE stake?
Christmas budgets slashed due to higher taxes, healthcare costs
Finance Ministry inundated with applications for debt settlement
Seven-month stock slide comes to halt
Moscovici urges Athens to ´take necessary measures,´ make way for troika´s return
The Greek government must take all the necessary measures so that troika inspectors return to Athens for their final assessment on Greece's reform program, EU Economic and Tax Commissioner P...
Venizelos urges Turkey to respect Cyprus EEZ
Ankara must respect Cyprus's exclusive economic zone (EEZ) if it wants UN-brokered reunification talks to resume, Greek Foreign Minister Evangelos Venizelos said ahead of a weekend visit to ...
Inside News
SOCCER
PAOK is one win from Europa League´s last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
Change of US president won´t mean change of foreign policy
Americans have again voted for change in Washington as opposition Republicans take control of both houses of the US Congress. As attention now turns to the 2016 presidential race, it's time ...
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Who will pay for the state’s ADMIE stake?
2. Christmas budgets slashed due to higher taxes, healthcare costs
3. Finance Ministry inundated with applications for debt settlement
4. Seven-month stock slide comes to halt
5. Forthnet subscription base grows to record level
6. Greek retail sales post rise but deposits take a hit
more news
Today
This Week
1. Greek economy expands 0.7 pct q/q in Q3
2. Child molester suspect photo released by police
3. Athens water supply 9-month profit falls 45 pct on lower charges
4. Lebanese FM: Cyprus may be jihadi transit point
5. Armed man arrested on Thessaloniki campus
6. Change of US president won't mean change of foreign policy
Today
This Week
1. Give Greece a chance
2. Extremism from a bygone era
3. Scientists expand excavation of ancient Amphipolis
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Cosco’s Greek unit adds multinational rail-freight client
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.