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The Greek economy performed better than expected in 2016 Q2. Although it contracted by -0.7% on a yearly basis (the 4th consecutive quarter with negative real GDP growth), it expanded by +0.3% on a quarterly basis. Furthermore, there was an upward revision of the 2016 Q1 real GDP growth rate from -1.4YoY% to -0.8YoY% and from -0.5QoQ% to -0.1QoQ%.