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22ndannualcapital

Greece's Second Quarter GDP Drops 0.2%

The Hellenic Statistical Authority (ELSTAT) confirmed that the nation's economy declined by 0.2% in 2014's second quarter.

This marks its slowest progress since 2008's third quarter. ELSTAT stated that the second quarter of this year's Gross Domestic Product (GDP) lessened by 0.2% based on volume, in comparison to the same timeframe last year, as determined by non-seasonally adjusted information.

The Greek statistics agency also revealed that GDP information in the first quarter of the year has been corrected to -1.1% from an original -0.9%. This was a result of the inclusion of new short-term figures and revised General Government quarterly data.