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Eurostat: Greek Economy Shrinks 0.5% in First Quarter

EU_Europe_Greece_Eurozone_EurogroupThe European statistics authority (Eurostat) has released its latest figures showing a 0.5% drop in GDP in Greece, in the first quarter of 2016.
At the same period, euro zone as a whole showed a 0.6% rise in GDP, while the European Union documented a 0.5 percent increase in GDP.
Compared to the first semester of 2015, the seasonally adjusted GDP in Greece dropped by 1.9%, while at the same time it grew by 1.7% in the euro zone and 1.8% in the EU.
Finally, the highest growth rates were documented in Romania (1.6%) and Cyprus (0.9%), followed by Spain, Lithuania, Austria and Slovakia (0.8%). Conversely, the highest drops were documented in Hungary (0.8%), Greece (0.5%) and Poland (0.1%).
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