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Athens - Greece's recession deepened in the fourth quarter of 2009 when the economy shrank by 0.8% compared to 0.3% contraction in the third quarter, official estimates showed on Friday.
Output in the fourth quarter was 2.6% less than in the last quarter of 2008, the data showed, the day after EU leaders promised action to help Greece through a severe debt crisis but were unable to provide details of how.
Greece entered recession in the second quarter of 2009.
In the third quarter of the year, the economy shrank by 0.4% from output in the previous three months and by 1.7% on a 12-month basis.
The Greek government, fighting hard to cut back massive and long-standing overspending to reassure international lenders and European Union institutions, expects the full data for 2009 to show recession of 1.2%.
Under a programme to restructure the economy presented to the European Commission in January, the government foresees further contraction of gross domestic product of 0.3% this year, and then growth of 1.5% in 2011.
- Sapa