Greek final first-quarter GDP confirmed at -0.2 percent quarter-on-quarter, economy in recession
ATHENS (Reuters) - Greece's economy shrank 0.2 percent in the first quarter, the country's statistics service said on Friday, confirming a preliminary estimate earlier in the month.
The data showed that the economy slipped back into recession as political turmoil put the brakes on a fragile recovery.
Greece's economy emerged from a six-year recession last year, but has struggled in recent months as political turbulence returned towards the end of last year, triggering early elections that brought the anti-austerity leftists to power.
The contraction over January to March, based on the second reading of seasonally adjusted data, followed a 0.4 percent decline in the final quarter of last year.
Year-on-year, seasonally adjusted GDP grew 0.4 percent, with the final reading revised up from a previous estimate of 0.3 percent but slowing from a 1.3 percent annual growth rate in the fourth quarter of 2014.
(Reporting by George Georgiopoulos and Angeliki Koutantou, editing by Deepa Babington)