GDP down 5.2% in Q3 - The Best from Greece

The country's gross domestic product (GDP) declined by 5.2 percent in the third quarter of the year against the same quarter in 2010, the Hellenic Statistical Authority (Elstat) said on November 15.

 

Elstat, in a flash estimate for quarterly national accounts, said that available non-seasonally-adjusted data indicates that, in the 3rd quarter of 2011, the GDP at constant prices of year 2005 decreased by 5.2 percent in comparison with the 3rd quarter of 2010.

 

GDP had posted a 7.4 percent decline in the second quarter of the year against the same quarter of 2010, and an 8.3 percent reduction in the first quarter of the year against the same quarter in 201.

 

The GDP decline for the year is anticipated to reach 5.5 percent, according to the forecasts contained in the draft budget.(AMNA)