Recession narrowed at 3.7% of GDP in 2013
Recession narrowed at 3.7% of GDP in 2013
The recession in 2013 was less than forecasted by troika - It stood at 3.7% of GDP against estimates of 4% - According to Hellenic Statistical Authority, in the last quarter of the year it was 2.6%
The recession in Greece declined and stood at 2.6% of its gross domestic product (GDP) in the fourth quarter of 2013, according to a Hellenic Statistical Authority announcement.
According to its figures, this is the fourth consecutive quarter in which the GDP rate decline is limited (1st quarter of 2013 -5.5%, 2nd quarter 3.7%, 3rd quarter 3% and 4th quarter 2.6%).
Based on the Finance Ministry estimates, GDP shrank by 3.7% for the whole year.
It should be noted that the initial estimate by the troika spoke of a 4.2% GDP recession, while the Greek side estimated it at around 3.8%. The result of this variation was to set the bar at 4%. These figures are not seasonally adjusted.
According to its figures, this is the fourth consecutive quarter in which the GDP rate decline is limited (1st quarter of 2013 -5.5%, 2nd quarter 3.7%, 3rd quarter 3% and 4th quarter 2.6%).
Based on the Finance Ministry estimates, GDP shrank by 3.7% for the whole year.
It should be noted that the initial estimate by the troika spoke of a 4.2% GDP recession, while the Greek side estimated it at around 3.8%. The result of this variation was to set the bar at 4%. These figures are not seasonally adjusted.
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