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Greece Focus Notes

12 August 2011
• Greek GDP flash estimate: Non-seasonally adjusted real GDP contracted by -6.9%YoY in Q2:2011, higher than the Q1:2011 figure of -8.1%YOY; seasonally adjusted data and QoQ data not available yet
• Preliminary budget execution data for year-to-July 2011 undershoot the new 2011 MTFS target
• Unemployment rate in May 2011 spiked to 16.6%, exceeding April’s reading of 15.8%
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