Greek recession eases sharply in Q2

By Dow Jones newswires

On a seasonally-adjusted quarterly basis, the second quarter data indicates that the economy expanded by between 0. 4 per cent to 0. 7 per cent compared with the first three months of the year — marking the first growth in 17 consecutive quarters-according to estimates put together by economists.

The second quarter data means that Greece is on track to meet its full year growth target of 0. 6 per cent for 2014, as forecast by Greece and its international creditors; the European Union and the International Monetary Fund.

Greece's battered economy is poised to emerge from a six-year recession in coming months after data released on Wednesday suggested that the economy grew on a quarterly basis for the first time since the start of the European debt crisis in early 2010.

Read more here: Business Spectator


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