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Greece's economy contracted at a milder than expected pace in the third quarter compared to the April-to-June period as capital controls hurt economic activity, data showed on Friday.
Gross domestic product shrank 0.5 percent from July to September, based on seasonally adjusted data from statistics service ELSTAT, which downwardly revised the previous quarter's growth pace to 0.4 percent from 0.9 percent. The flash reading came in below market expectations.
Economists polled by Reuters were expecting a quarterly contraction of 2.7 percent. Year-on-year, the economy shrank 0.4 percent in the third quarter. Economists were expecting a yearly contraction of 1.9 percent.
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