Tuesday, March 11, 2014

Greece 'On Course for Growth'

Wall Street Journal
March 11, 2014

Greece's economy contracted less than expected in the fourth quarter of last year, helping the country's finances get off to a good start in 2014, according to figures published Tuesday.

Fresh data from Greece's statistics service, Elstat, for the October-December period showed that gross domestic product contracted by an annual rate of 2.3% in the last quarter of 2013, less than a previous flash estimate of a 2.6% contraction.

It was the economy's best performance since the first quarter of 2010.

The latest snapshot of the Greek economy boosts hopes that it will return to growth this year after six years of contraction. According to current budget forecasts, Greece's economy is officially expected to expand by 0.6% in 2014.


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