Greece Avoids Recession In Q4

The Greek economy avoided recession in the fourth quarter, final data from Hellenic Statistical Authority showed Monday.

Gross domestic product grew 0.1 percent sequentially instead of 0.6 percent fall estimated initially. The economy shrank 1.2 percent in the third quarter.

On a yearly basis, GDP fell by seasonally and calendar adjusted 0.8 percent compared to the flash estimate of 1.9 percent decline and 1.7 percent fall seen in the third quarter.

On an unadjusted basis, GDP dropped 0.7 percent, smaller than a 2 percent fall estimated on February 12 and third quarter’s 1.7 percent contraction.

The material has been provided by InstaForex Company –