Greek Economy Contracts for 20th Quarter Amid Record Joblessness
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Greece’s economy contracted for a 20th quarter, extending an economic slump that has left more than six in 10 young Greeks out of work.
Gross domestic product shrank 4.6 percent in the three months through June from the same period last year after dropping 5.6 percent in the previous quarter, the Athens-based Hellenic Statistical Authority said in an e-mailed statement today. The median of six economist estimates in a Bloomberg News survey was for a 4.9 percent contraction. Greece doesn’t publish seasonally adjusted or quarter-on-quarter GDP data.