Tuesday, November 15, 2011
Greek GDP shrinks 5.2%, reports says
A nasty mix of inflation, slowing exports and rising unemployment in the euro zone bode poorly and many economists expect a mild recession in Europe from the fourth quarter.
The European Union's Statistics office Eurostat released today seasonally unadjusted flash estimates for third quarter 2011 of Europe’s gross domestic product.
It showed a modest growth for the Euro zone economies.
For Greece, however, year-on-year, the GDP was contracted by 5.2%, compared with a revised 7.4% drop in the second quarter, Eurostats data showed.
It showed a modest growth for the Euro zone economies.
For Greece, however, year-on-year, the GDP was contracted by 5.2%, compared with a revised 7.4% drop in the second quarter, Eurostats data showed.
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