Greece – The economy shrinks by 1.1 pct in Q1

The Greek economy shrank by 1.1 percent in the first quarter of the year on a 12-month basis, Greece’s statistics agency said on Thursday. 

The data, unadjusted for seasonal factors showed that output by the bailed out economy “decreased by 1.1 percent in comparison with the first quarter of 2013,” the ELSTAT agency said.

Based on the data announced on Thursday, the economy in 2013 shrank by 3.86 percent according to AFP calculations.

via ekathimerini.com | Greek economy shrinks by 1.1 pct in first quarter.