Greece’s economic indicators signal its recession may have bottomed out amid a drop in yields and a surge in shares, Jan von Gerich at Nordea Bank AB said.
Greece’s economy will contract further this year as austerity measures curb domestic demand, the Athens-based Foundation for Economic and Industrial Research said.
The International Monetary Fund’s representative for Greece Bob Traa said Greece’s economy will shrink 2.5 percent next year with growth resuming in 2013.
Greece’s economy shrank 6.9 percent in the second quarter of 2011 from the same period a year earlier, the Athens-based Hellenic Statistical Authority said in an e-mailed statement today.
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