Greek economy shrinks a further 1.5%
The Greek economy shrank by a further 1.5% in the second quarter of the year, Greece's statistics agency has said.
It adds to the 0.8% decline in GDP recorded for the first three months of 2010, suggesting that the decline in the economy is speeding up. Greece's GDP has fallen 3.5% since the same period in 2009.
Greece's statistics agency Elstat said the "significant reduction" in public spending had contributed to the deepening of the country's recession.
Malcolm Brabant reports.
12 Aug 2010
- From the section Business