Investing

Greek Economy Slumps Further

Greece’s official government data firm Elstat reported that the nation’s economy contracted at a rate of 6.3% per annum based on second-quarter figures. The numbers were a revision of previous preliminary forecasts, and they reinforce the notion that Greece has fallen into an economic…

By Trey Thoelcke
Published September 7, 2012, 6:35am ET · 1 min read

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Greece’s official government data firm Elstat reported that the nation’s economy contracted at a rate of 6.3% per annum based on second-quarter figures. The numbers were a revision of previous preliminary forecasts, and they reinforce the notion that Greece has fallen into an economic depression that could last for years. According to the Wall Street Journal:

Figures from Elstat, meanwhile, showed that total consumption slumped 7.2% on the year in the second quarter after a 7.1% drop in the first quarter, with the fall in consumer spending particularly sharp.

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

1INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org).2The probability of a member receiving $3,000 is 0.028%. If you don’t make a selection in 45 days, you’ll no longer qualify for the promo. Members must fund their account with a minimum of $50.00 to qualify. The probability percentage is subject to decrease. Members are only eligible for the Stock Award promotion upon opening their first brokerage account; subsequent cash brokerage accounts are ineligible for the promo, including for members with multiple accounts.

3Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.

4There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Trey Thoelcke

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.

All articles →