Greek Third-Quarter GDP Decline Slowed as Jobless Rate Unchanged
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Greece’s economy contracted at its slowest pace in four years in the third quarter as a stabilizing unemployment rate added to indications the country may be turning the corner in its economic crisis.
Gross domestic product declined 3 percent in the three months through September from the same period last year after dropping a revised 3.7 percent in the previous quarter, the Athens-based Hellenic Statistical Authority said in an e-mailed statement today. Greece’s August jobless rate was unchanged at 27.3 percent from the month before, the statistics agency said in a separate release today. Revisions in the data show unemployment peaked at 27.5 percent in May.