Greece’s Recession Eases as Economy Becomes ‘Less Disastrous’

Greece’s economy contracted at its slowest pace in four year in the first quarter, adding to signs that the country is set to exit a six-year recession this year.

Gross domestic product declined 1.1 percent in the three months through March from the same period last year, its 23rd straight contraction, after dropping 2.3 percent in the previous quarter, the Athens-based Hellenic Statistical Authority said in an e-mailed statement today. The contraction is the smallest since the first quarter of 2010.