Greece out of recession with two quarters of growth

The Greek economy emerged from recession for the first time since 2014, managing two straight quarters of GDP growth, figures show. Greece’s gross domestic product (GDP) increased by 0.5% in the three months to September from the previous quarter and by 1.5% from the third quarter of 2015, statistics bureau Elstat said. It had already nudged 0.2% higher in the second quarter from the first. Two consecutive quarters of growth officially mark the end of a recession. The Greek government expects the Greek economy to contract by 0.3% in the full-year 2016, before returning to growth next year when it predicts GDP to surge by 2.7%.