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Greek Economy In 6.9% Downturn In Q2

A downturn of 6.9% is reflected at the announcement of Hellenic Statistical Authority (ELSTAT), confirming the crisis raging in the domestic market.
Due to the break in the time series of quarterly General Government data, and the resulting availability of data for only a very short period (2009Q1- 2011Q2) on which to apply the seasonal adjustment calculation, combined with major changes reflected in the economic indicators used in the estimations of quarterly GDP, the implementation of seasonal adjustment does not provide satisfactory results, according to ELSTAT.
(source: capital)

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