Greece exits recession; Germany avoids one

  • New figures released by Eurostat reveal that Greece exited recession earlier this year.
  • Greek economy grew by 0.8 per cent in Q1 2014, 0.3 per cent in Q2 and 0.7 per cent in Q3.
  • Germany avoided appears to have narrowly avoided a technical recession with Q3 growth of 0.1 per cent; follows of 0.1 per cent contraction in Q2.
  • Overall, euro zone grew by a sluggish 0.2 per cent in Q3; Italian and Cypriot economies both contracted. 

Eurostat figures (PDF)