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Athens News Agency: News in English, 11-09-08
CONTENTS
[01] Greek economy shrinks 7.7 pct in H1
[01] Greek economy shrinks 7.7 pct in H1
(ANA-MPA) -- The Greek economy remained in deep recession in the first
half of 2011, with the country’s Gross Domestic Product shrinking by
7.7 pct in the January-June period, compared with a decline of 2.35
pct in the same period last year, the independent Hellenic Statistical
Authority said on Thursday.
The statistics service, in a report, said that GDP fell 7.3 pct in the
second quarter of 2011, exceeding a budget target for a decline of 6.9
pct. The statistics agency attributed this negative development to a
sharp decline in turnover in the services sector and to a large decline
in investments. The country’s Gross Domestic Product shrank 8.1 pct in
the first quarter. (ANA-MPA)
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