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Athens News Agency: News in English, 09-11-13

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Econ shrinks 1.6% in Q3

  • [01] Econ shrinks 1.6% in Q3

    BRUSSELS (ANA-MPA / V. Demiris) -- The Greek economy shrank by 1.6 pct in the third quarter of 2009, compared with the corresponding period last year, Greece‚s National Statistical Service and Eurostat announced on Friday.

    The Greek statistics service said the country‚s Gross Domestic Product fell by 0.3 pct in the third quarter compared with the second quarter of the year, reflecting mainly a decline in investments, construction activity, exports and private consumption.

    The EU executive‚s statistical agency said Eurozone GDP fell by 4.1 pct, while GDP in the EU-27 was down 4.3 pct and in the US GDP fell by 2.3 pct. Eurostat also said that GDP grew by 0.4 pct in the Eurozone and shrank by 0.2 pct in the third quarter compared with the second quarter of 2009.

    Amelia Torres, a spokeswoman for EU Economic and Monetary Affairs Commissioner Joaquin Almunia, said that after five consecutive quarters of negative growth, the EU economy returned to positive growth rates confirming the European Commission's estimates.


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