Greek economy recession at 4.6%
A shrinking of Greek economy at a rate of 4.6% was recorded in the second trimester of the year, according to the preliminary, not seasonally corrected data published by the Greek Statistics Authority. This is being interpreted as a slowing of the recession, given that in the first trimester of 2013, GDP had been decreased by 5.6%.
More specifically, based on the available not seasonally corrected data, ELSTAT announced that the GDP in volume terms, during the 2nd trimester of 2013 presented a decrease of 4.6% compared to the 2nd trimester of 2012.
The 1st trimester of 2013 GDP has been revised based on the data for the 1st trimester of the General Government accounts (that were compiled in late June), as well as more recent evaluations of short-term indexes.