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Greek Economy Grew in Second Quarter Despite Dragging Review

  • GDP expanded 0.3 percent, averting a technical recession
  • Central bank forecasts annual contraction of 0.3 percent

Greece unexpectedly averted a recession in the second quarter when the country and its creditors haggled over the release of bailout funds.

Gross domestic product expanded 0.3 percent in the three months through June after shrinking a revised 0.1 percent in the previous quarter, the Hellenic Statistical Authority said in an e-mailed statement on Friday. The median estimate in a Bloomberg survey was for a 0.2 percent drop.