Eurostat: Greek economy shrinks by 0.5% in first quarter of 2016

7 June 2016
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The European statistics authority Eurostat has published its latest figures and documented a 0.5% drop in the GDP in Greece, during the first quarter of 2016.

During the same semester Eurostat also documented a 0.6% rise in the GDP in the Eurozone and a 0.5% increase in the European Union.

Compared to the first semester of 2015, the seasonally adjusted GDP in Greece dropped by 1.9%, while at the same time in the Eurozone it grew by 1.7% and 1.8% in the EU.

Finally, the highest growth rates were documented in Romania (1.6%) and Cyprus (0.9%), followed by Spain, Lithuania, Austria and Slovakia (0.8%). Conversely, the highest drops were documented in Hungary (0.8%), Greece (0.5%) and Poland (0.1%).

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