Greece: Economic activity continues to decline
November 15, 2011
In the third quarter, GDP contracted 5.2% over the same period last year, according to the flash estimate released by the Hellenic Statistical Authority (EL.STAT) on 15 November. The result came in above the revised 7.4% decline recorded in the second quarter (previously reported: -6.9% year-on-year). EL.STAT has not provided seasonally adjusted figures for some time due to methodological problems. The statistics agency is due to release provisional data on 9 December.