Greek Economy Unexpectedly Shrank in Further Hit to Euro Zone
- First-quarter contraction follows expansion at end of 2022
- Investment drop offset higher consumer spending and exports
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Greece’s economy contracted at the start of the year, a result that could further weigh on the wider euro zone’s data after Germany suffered a recession.
Gross domestic product between January and March fell 0.1% from the previous three months, retracing after the fourth quarter’s 1.1% expansion, the Hellenic Statistical Authority said Wednesday. All three economists surveyed by Bloomberg had anticipated growth.