Greek economy shrinks in Q1
- Written by E.Tsiliopoulos
The Greek economy shrank by 0.2 pct in the first quarter of 2015, in contrast with the Eurozone and the EU-28 which grew by 0.4 pct in the January-March period, Eurostat said on Tuesday.
In a report released here, the EU executive's statistics office said that based on revised figures, the Eurozone and the EU-28 GDP grew 0.4 pct in the first quarter compared with the fourth quarter of 2014, based on a 0.4 pct increase in household consumption.
On a year-on-year basis, the GDP grew 1.0 pct in the Eurozone and 1.5 pct in the EU-28. The Czech economy recorded the highest GDP growth rate in the first quarter (3.1 pct), followed by Cyprus and Romania (1.6 pct each), Poland (1.0 pct) and Bulgaria and Spain (0.9 pct each). On the other hand, Lithuania (-0.6 pct), Estonia (-0.3 pct), Greece (-0.2 pct) and Finland (-0.1 pct) recorded negative growth rates.
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