In the fourth quarter, GDP contracted 7.0% over the same period the previous year, according to the flash estimate released by the Hellenic Statistical Authority (EL.STAT) on 14 February. The result came in below the revised 5.0% decline recorded in the third quarter (previously reported: -5.2% year-on-year). The Greek economy has been contracting virtually uninterruptedly since the third quarter of 2008, with the exception of a mild rebound in Q1 2010. In the full year 2011, the economy plummeted 6.8%, which nearly doubled the 3.5% decline seen in 2010 and represented the fourth consecutive annual contraction. EL.STAT has not provided seasonally adjusted figures since Q1 2011 due to methodological problems. The statistics agency is due to release provisional data on 9 March. The government sees the economy shrinking 2.8% in 2012.
Economic activity plummets in fourth quarter
February 14, 2012
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Greece Economic News
October 10, 2016
In August, industrial production fell a working-day adjusted 0.3% compared to the same month last year, which contrasted the revised 4.7% expansion in July (previously reported: +4.1% year-on-year).
October 6, 2016
The number of unemployed fell by 5,357 in July, according to the Hellenic Statistical Authority (EL.STAT.).
October 3, 2016
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) deteriorated in September, erasing most of the gains made in August.
September 9, 2016
In July, industrial production rose a working-day adjusted 4.1% compared to the same month last year, which came in below the revised 7.9% expansion in June (previously reported: +7.5% year-on-year).
September 8, 2016
The number of unemployed fell by 6,800 in June, according to the Hellenic Statistical Authority (EL.STAT.).