Greece’s economy recovered in the third quarter from a record contraction caused by the coronavirus pandemic, data released by the Hellenic Statistical Authority showed Friday.

Gross domestic product grew 2.3 percent sequentially, reversing the 14.1 percent fall in the second quarter.

On a yearly basis, GDP decreased 11.7 percent in the third quarter versus -14.2 percent decline in the previous quarter.

The expenditure-side breakdown showed that final consumption expenditure advanced 14 percent and gross fixed capital formation fell moderately by 0.4 percent.

Exports decreased 10.4 percent, while imports grew 9.6 percent on quarter.

The material has been provided by InstaForex Company – www.instaforex.com

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