ELSTAT: GDP in volume terms decreased by 0.4% compared to the fourth quarter of 2015

The Greek statistics authority ELSTAT has published it latest flash estimates on the Gross Domestic Product for the first quarter of 2016.

According to ELSTAT’s seasonally adjusted data, the GDP in volume terms decreased by 0.4% compared to the fourth quarter of 2015. The figures also show that the GDP while decreased by 1.3% since the first quarter of 2015.

These figures reflect an improvement in the Greek economy, since initial estimates suggested 0.7% and 1.4% rates of recession, on a quarterly and annual basis respectively.