Eurostat: Greek economy shrinks 0.2% in August

Greece’s gross domestic product (GDP) contracted 0.2% in the second quarter of 2014 over the same quarter of the previous year, according to data from Eurostat published on Thursday.

The country’s statistics agency, ELSTAT, gave on Monday a revised 0.3% negative reading for the same period.

At the same period, GDP remained stable in Eurozone and in the EU it rose by 0.2% during the second quarter of the year.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.7% in the euro area and by 1.2% in the EU in the second quarter of 2014, after +1.0% and +1.4% respectively in the previous quarter.

Among member-states for which data are available for the second quarter of the year, Malta (+1.3%), Latvia and Slovenia (both +1.0%), Lithuania, Hungary and the United Kingdom (all +0.8%) recorded the highest growth compared with the previous quarter.

Romania (-1.0%), Denmark and Cyprus (both -0.3%), Germany and Italy (both -0.2%) registered decreases.

Eurostat

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