February 12, 2016 / 10:17 AM / 2 years ago

Greek economy shrinks 0.6 pct q/q in fourth quarter

ATHENS, Feb 12 (Reuters) - Greece's economy contracted by
0.6 percent in last year's final quarter, flash estimates by
Eurostat showed on Friday, as fiscal austerity and capital
controls continued to weigh on investment, exports and consumer
spending. 
    The decline in gross domestic product from October to
December, based on seasonally adjusted data, was smaller than
market expectations. Economists polled by Reuters were
forecasting a 0.9 percent contraction quarter-on-quarter.
    A previously reported 0.9 percent contraction in the third
quarter was downwardly revised to -1.4 percent.
    The data showed the 173 billion euro economy shrank at an
annual 1.9 percent pace in the fourth quarter, unchanged from
the third quarter where the contraction was revised to -1.9
percent from -1.1 percent.
    Economists were expecting a yearly contraction of 1.5
percent in the last quarter of 2015.

***************************************************************
KEY FIGURES          Q4 2015  Q3 2015  Q2 2015  Q1 2015   
    GDP (q/q, pct)     -0.6     -1.4*    0.2*    -0.1     
    GDP (y/y, pct)     -1.9     -1.9*    0.8*     0.3*   
---------------------------------------------------------------
    source: ELSTAT, EUROSTAT
    *revised    

 (Reporting by George Georgiopoulos)

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