// IP Marketing video - START// IP Marketing video - END

Greek economy drops in Q3 amid difficult bailout talks

Greek economy drops in Q3 amid difficult bailout talks

PanARMENIAN.Net - The Greek economy unexpectedly shrank in the three months to December, latest figures show, according to BBC News.

Output fell by 0.4% in the final quarter of the year, compared with growth of 0.9% in the third quarter. Analysts had been expecting the growth to continue.

The country is in the throes of difficult bailout talks with international creditors.

Overall, eurozone growth was revised down to 0.4% for the fourth quarter.

An initial estimate had put the growth rate at 0.5%, but the estimate was reduced partly as a result of slower than expected growth in Germany.

However, Germany's 0.4% growth rate in the final quarter of 2016 was still better than the 0.1% rate recorded in the previous three months.

A separate report from the German economy ministry said that rising orders in manufacturing and construction pointed to "solid" growth in the first three months of 2017.

"Economic indicators are pointing to a solid start for the year 2017," it said.

"However, uncertainties remain especially in the trade environment. The outlook for the global economy remains subdued."

 Top stories
Mount Maymekh will become a skiing zone under a new project which will attract about $30 million in investments and create some 1600 jobs.
Armenia would become a rock-bottom option in the Eastern European region, maybe in the world, for citizenship through investment.
Cryptocurrency fever seems to have spread to the former Soviet republics with Armenia, the land of Mount Ararat, being one of them.
"There is ample proof that Monsanto's sprays have poisoned our environment contributing drastically to dying off of bees," Tankian said.
Partner news